WHIRLPOOL OF INDIA Q4 PROFIT JUMPS 55%; REVENUE UP 16%

Whirlpool of India, a subsidiary of Whirlpool Corporation, the world’s leading home appliance company, today announced strong operating results for the fourth quarter of 2014-15.  Total income of Rs. 776.6 Cr. grew by 16.4% and Profit after Tax at Rs. 55.3 Cr. was higher by 55.5% over the same quarter last year.  EBITDA margin at 12.0% was better by 1.8 points than the corresponding quarter of the previous fiscal.

Total income for the financial year 2014-15 stood at Rs 3,294 Cr, a growth of 16.2%. EBITDA margin saw a 2.8% improvement over the previous year. The company continues to remain debt free with a record cash surplus of Rs 536 Cr. EPS of 16.60 was the company’s best ever and significantly higher than Rs 9.60 posted last year.

 Mr. Arvind Uppal, Chairman Whirlpool of India Limited and President Asia Pacific, Whirlpool Corporation said, “We delivered strong results in the 4th quarter driven by both top line growth and moderation in input costs.  The impact of unseasonal weather conditions is likely to moderate demand in semi urban and rural areas, but we remain optimistic that growth will accelerate in the second half of the year.”

Whirlpool has launched a new range of air conditioners and refrigerators for the summer. It has also increased its in-shop presence across the country, with the intention of growing categories such as Air Conditioners, Microwaves and Water Purifiers. Its premium Built In appliances, sold through the kitchen manufacturer channel, is also expanding its footprint across the country.