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Whirlpool Q3 profit jumps 49 pct

India Blooms News Service | | Jan 31, 2015, at 02:52 am

#Whirlpool Q3 profit jumps 49 pct

Kolkata, Jan 30 (IBNS): Whirlpool of India, a subsidiary of Whirlpool Corporation, on Friday announced strong operating results for the third quarter of 2014-15.

Total income of Rs. 721.4 Cr. grew by 7.2% and Profit after Tax at Rs 31.5 Cr. was higher by 48.6% over the same quarter last year.

EBITDA margin at 8.9% was better by 2.2 points. The company continues to remain debt free and cash positive. EPS of 2.49 was significantly higher than 1.67 posted in the same quarter last year, a company statement said.

Arvind Uppal, Chairman Whirlpool of India Limited and President Asia Pacific, Whirlpool Corporation said, "We are pleased with our third quarter results. Improved product, mix and cost productivity helped offset the softness in demand post Diwali. The drop in raw material prices augurs well for the industry and we remain optimistic about the future outlook."

Whirlpool has focused on growing its presence in the premium end and its business in Built In appliances, sold through the kitchen manufacturer channel, is now available in >250 outlets across the country. It is also developing plans to expand its air conditioner, microwave and water purifier businesses through a concerted set of actions, the statement said.

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