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18 Aug 2019, Edition - 1496, Sunday

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Whirlpool of India Posts 17.6 Percent Rise in PBT in Q1 2019–2020

Covai Post Network

Whirlpool of India, a subsidiary of world’s leading home appliance company Whirlpool Corporation, has reported strong operating results for the first quarter of 2019-20. Total income from operations 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.

 

Mr. 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.”

 

Mr. Sunil D'Souza, Managing Director, Whirlpool of India Limited

 

Mr. Sunil D’Souza, Managing Director, 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 the world’s leading home appliance company with approximately $21 billion in annual sales, 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.

 
Source: Newsvior

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