Whirlpool of India reported a consolidated net profit of ₹130.06 crore for the quarter ended March 31, up 40.84 per cent against ₹92.34-crore net profit recorded during the corresponding quarter in the previous fiscal. Revenue from operations grew 31.45 per cent to ₹1779.39 crore.
The company recorded a consolidated net profit of ₹71.36 crore in the October-December 2020 quarter.
The Board of Directors of the company, at its meeting held on Tuesday, recommended a final dividend of ₹5 per equity share of the face value of ₹10 each (50 per cent) for the financial year 2020-21, the company said in a BSE filing.
Growth momentum
In a statement, Arvind Uppal, Chairman, Whirlpool of India Ltd, said, “Whirlpool has delivered a very strong quarter across all financial levers. Underlying growth momentum in the home appliances industry continues to be very healthy. Despite the headwinds due to the re-emergence of Covid-19 and inflationary trends, we remain optimistic about the longer-term trends for our business."
For the full year of FY21, the consumer durables company recorded a consolidated net profit of ₹351.83 crore down 28.22 per cent compared to the previous fiscal. Revenue from operations for the full year stood ₹5,899.89 crore registering a marginal decline of about 1.55 per cent compared to the previous fiscal.
Vishal Bhola, Managing Director, Whirlpool of India Ltd, “It was a really strong end to the year with an acceleration in topline growth and profitability. The performance came on the back of strong and broad based double digit volume growth. All categories and geographies showed continued momentum which helped end the year with the business growing ahead of markets. We continue to be optimistic about our short and medium term prospects.”