Whirlpool of India, subsidiary of Whirlpool Corporation, has announced total income of Rs 1,052 crore for the first quarter ended June 30, 2014, a growth of 19 per cent on a year-over-year basis, and an EBITDA margin at 13.1 per cent, better by 3.1 points, over the same quarter last year and 2.9 points better than the previous quarter.
Q1 FY15 profit after tax stood at Rs 83.0 crore, as compared to Rs 49.6 crore in Q1 of fiscal 2013 and Rs 35.6 crore in Q4 of fiscal 2013-14, a growth of 67 per cent over last year.
Commenting on the company’s performance, Arvind Uppal, Chairman and Managing Director, Whirlpool of India and President, South Asia and Asia Pacific, Whirlpool Corporation said, “We have delivered a very strong operating performance, which, combined with an improvement in consumer demand, has resulted in significant increase in our operating profits. We remain optimistic about our performance in the future.”
The company is on track with its plans to introduce over 200 new models in 2014 and has already put into market a new range of air conditioners, refrigerators and washing machines. The focus on enlarging its category footprint by aggressively expanding its high-end built-in-range of kitchen appliances, including refrigerators, ovens, dishwashers and coffee makers, and its water purifier business continued.