Whirlpool of India Ltd has reported a 40.8 per cent jump in its net profit for the January-March quarter. The firm’s profit after tax rose to Rs 130 crore from Rs 92.3 crore in the corresponding quarter last year, it said. Whirlpool’s consolidated operating revenue grew 31.4 per cent year-on-year to Rs 1,779.4 crore from Rs 1,353.6 crore.
According to the company, its business was robust as all categories and geographies showed continued momentum. However, the resurgence of the Covid crisis and inflationary pressure were observed during the quarter.
For FY21, Whirlpool’s net profit fell sharply. During the year, its PAT plunged 30 per cent to Rs 333.3 crore from Rs 476.3 crore in the previous year.
While its operating revenue slid marginally to Rs 5,900 crore from Rs 5,993 crore. However, rising expenses impacted its margins heavily. In spite of lower sales, its cost of raw materials and total expenses grew.
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