Key Highlights of Quarter 1
- Revenue of Rs 881 Crore.
- PAT at Rs. 49.59 Crore.
- Highest ever surplus cash of Rs 167 Cr.
- Continues to remain debt-free.
- Strengthens market share in core categories.
New Delhi, August 13, 2013: Whirlpool of India, a subsidiary of Whirlpool Corporation, the World’s No.1 Home Appliance Company today announced its 1st Quarter earnings at Rs. 49.59 Crore in profit after tax (PAT) with an EBITDA of 10%. Profit was impacted by unprecedented pressure on cost leading to PAT being lower than what was recorded in the corresponding quarter last fiscal (Rs 64.6 Cr).
Whirlpool’s total turnover (Net Sales & Other Operating income) was marginally down at Rs. 881 Crore impacted by contraction in consumer demand. This compares favourably with the decline in the appliance industry where demand is down by an estimated 15-20%. As a result, the company has in the course of the year strengthened its market share in its core categories of refrigerators and washing machines by 2.8 points.
Mr.Arvind Uppal, Chairman and Managing Director, Whirlpool of India Limited and President South Asia and Asia Pacific, Whirlpool Corporation said “We are pleased with our performance given the conflicting pressures of softening demand and high inflation. With the weakening of the Rupee these pressures are expected to continue. We have increased our focus on innovation and productivity improvements to drive market share and lower cost.”
About Whirlpool Corporation
Whirlpool Corporation is the world’s leading manufacturer and marketer of major home appliances, with annual sales of $18+B in 2010, 67,000 employees, and 67 manufacturing and technology research centres around the world. The company markets Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Brastemp, Consul, Bauknecht and other major brand names to consumers in nearly every country around the world. Additional information about the company can be found at http://www.whirlpoolcorp.com
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Corporate Voice I Weber Shandwick.