Whirlpool of India, the subsidiary of Whirlpool Corporation, the World’s No.1 Home Appliance Company today announced Revenue of Rs 618 Cr and Net Profit of Rs 10.1 Cr for the quarter ending December 2012. The corresponding numbers for 2011 were Rs 617 Cr and Rs 21 Cr respectively.
On a cumulative basis, revenue (Rs 2145.9 Cr) is up by 7% and PAT (Rs 103 Cr) is higher by 19%. The company continues to remain debt free and cash delivered was robust at Rs 145 Cr.
Festival demand, a significant contributor to top-line in this quarter, was the weakest in recent history. Against this, Whirlpool has grown share by 5 percentage points in Direct Cool and 4 points in Semi Automatic Washers, the largest and most competitive segments of the appliance market.
Mr. Arvind Uppal, Chairman and Managing Director, Whirlpool of India Limited said "This quarter our industry faced strong headwinds on all drivers of growth and profitability. Our new products have however done very well, as reflected in market share gains in our core businesses, and we remain committed to invest in growth and innovation. We are cautiously optimistic about the revival of growth and have thus invested in media even as we prepare to introduce new products this summer.”
One of the key pillars of Whirlpool’s winning strategy has been to consistently keep introducing new, advanced products. The company is preparing to launch a new range of Air Conditioners and Refrigerators this summer, with products rolling out in March.
ABOUT Whirlpool Corporation
Whirlpool Corporation is the world's leading manufacturer and marketer of major home appliances, with annual sales of approximately $19 billion in 2011, 67,000 employees, and 67 manufacturing and technology research centers 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.
