Whirlpool India Posts Rise in Profit Before Tax in Q1 2019-2020

• Whirlpool Corporation approximately earns $21 billion in annual sales
• These figures indicate 17.6 percent increase against the same period last year

Whirlpool of India, a subsidiary of home appliance company Whirlpool Corporation, has reported operating results for the first quarter of 2019-20. Company’s total income from operations, as per the company, rose to Rs 2001.6 crore, up 18.7 percent from the same period last year. The standalone profit before tax was Rs 294.9 crore, a 17.6 percent increase against the same period last year.

Arvind Uppal, Chairman, Whirlpool of India Limited said, “Whirlpool continued its strong momentum across all key levers, volume, profit and cash. These results came on the back of robust execution, market share gains and an extended summer. We remain confident about the future despite the emergence of short term macroeconomic headwinds.”

Whirlpool is present in all major home appliance categories

It is to be noted here that Whirpool retails all the major home appliances category products in the country. Whirlpool sells washing machines, ACs, kitchen appliances, water purifiers and air purifiers in the country.

Sunil D’Souza, MD, Whirlpool of India Limited said, ‘We delivered strong results for the quarter both on top line and bottom line. We saw a great response to our new launches across categories. While the front end drove great execution to strengthen our market position, the plants ramped up to top notch utilization to support the momentum. While we do see some macro headwinds and uncertainty in the short term, given our current product pipeline and execution capabilities, we remain confident of continuing to deliver top notch results ahead.”

Whirlpool Corporation is counted among one of world’s largest home appliance companies. It makes approximately $21 billion in annual sales and had 65 manufacturing and technology research centers in 2018. Whirlpool of India, the Indian subsidiary of Whirlpool Corporation, is listed on Bombay Stock Exchange and National Stock Exchange.

Author – Mukul Yudhveer Singh. An avid reader, Mukul finds peace in books and technology. He’s as passionate about writing as he is about playing cricket and hitting the gym. If not writing or reading, you will most likely find him drawing tattoo designs or analyzing political campaigns.