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Whirlpool Q2 profit jumps 2.5 times, revenue up by 21%

India Blooms News Service | | 31 Oct 2014, 11:05 pm
Kolkata, Oct 31 (IBNS): Whirlpool of India, a subsidiary of Whirlpool Corporation, the home appliance company, on Friday announced solid operating results for the second quarter of 2014-15, where its total income of Rs. 744.6 Cr. grew by 21% and Profit after Tax at Rs. 40.7 Cr. was 2.5 times higher than the same quarter last year.

Cumulatively, PAT for the first six months of FY 2015 stood at Rs. 123.7 Cr. more than the full year PAT (Rs. 122.9 Cr.) of the last fiscal.

EBITDA margin at 9.9% was better by 3.6 points. The company continued to remain debt free and cash positive.  EPS of 3.2 was significantly higher than 1.3 posted in the same quarter last year.

Arvind Uppal, Chairman Whirlpool of India Limited and President Asia Pacific, Whirlpool Corporation said, “I am extremely pleased with our second quarter results.  We are seeing strong business momentum with significant improvement across all levers.  There are clear signs of industry growth and we expect the trend to continue into the foreseeable future.  We have crossed last year’s profit in the first 6 months of this year and continue to remain optimistic about the future.”

Whirlpool’s sales in the festive period grew by ~20%.  As part of the company’s innovation agenda of introducing ~200 new models in 2014, the company recently launched a range of premium microwaves and a new washing machine.

Whirlpool also announced that it plans to aggressively grow its air conditioner and microwave business and expand its new businesses of Built In and Water.