Latest News | Whirlpool of India Q4 Net Profit Down 12.2 Pc to Rs 92.34 Cr

New Delhi, Jun 18 (PTI) Consumer durables maker Whirlpool of India Ltd on Thursday reported a 12.19 per cent fall in consolidated net profit to Rs 92.34 crore for the fourth quarter ended March 2020.

The firm had posted a net profit of Rs 105.17 crore during the January-March quarter of the previous financial year, Whirlpool of India said in a regulatory filing.

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Its revenue from operations was at Rs 1,353.62 crore during the March 2020 quarter, down marginally as against Rs 1,355.15 crore a year ago.

Whirlpool of India Managing Director Vishal Bholasaid, "The fourth quarter was impacted due to the lockdown announced in March. Both topline (revenue) and bottomline (profit) were significantly impacted as we were not able to produce or sell in the last 10 days of March."

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Whirlpool of India's total expenses stood at Rs 1,260.34 crore in the fourth quarter of 2019-20, up 3.38 per cent as against Rs 1,219.05 crore.

For the financial year 2019-20, Whirlpool of India's net profit was up 19.63 per cent to Rs 490.19 crore. It was Rs 409.74 crore in the previous year.

Its revenue from operations in the financial year 2019-20 was Rs 5,992.52 crore, a rise of 11.02 per cent as against Rs 5,397.65 crore in the previous year.

Over the outlook, Whirlpool of India Chairman Arvind Uppal said, "While the full extent of this pandemic still remains uncertain, given the nature of the home appliance industry, we remain optimistic that our business will bounce back sooner rather than later."

Shares of Whirlpool of India on Thursday settled at Rs 2,111.05 on the BSE, up 1.99 per cent from the previous close.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)