Whirlpool of India, a subsidiary of Whirlpool Corporation, the World’s No.1 Home Appliance Company today announced its 3rd Quarter earnings at Rs. 21.2 Crore in profit after tax (PAT), a two-fold growth over the corresponding number of the previous year. This was enabled by a revenue growth of 8.7 % (1.0%in Q3 2012-13) and an EBITDA margin of 6.7% (4.6% in Q3 2012-13). This is against an industry backdrop of contracting demand and high commodity inflation.
The company continues to exercise strong control over working capital, resulting in cumulative cash generation from operations totalling Rs 196 Cr. The company also continues to remain debt free after financing capital for growth and innovation.
The exit market share number in Q3 is also better than the previous quarter with the company’s key businesses of Refrigerators and Washing Machines both registering growth.
Mr.Arvind Uppal, Chairman and Managing Director, Whirlpool of India Limited and President South Asia and Asia Pacific, Whirlpool Corporation said "We are happy with our performance in Q3. All profitability levers - Value growth Variable Margin, EBITDA, PBT and PAT - have been better versus last year and the previous quarter. This has been achieved against considerable odds, as softness in demand, volatility in currency and commodity inflation persisted in the quarter. Our strong fiscal discipline and the new product launches on the anvil give us the confidence to look at the ensuing quarters with a sense of optimism”.
About Whirlpool Corporation
Whirlpool Corporation is the world's leading manufacturer and marketer of major home appliances, with annual sales of $19B in 2013, 68,000 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
The company continues to exercise strong control over working capital, resulting in cumulative cash generation from operations totalling Rs 196 Cr. The company also continues to remain debt free after financing capital for growth and innovation.
The exit market share number in Q3 is also better than the previous quarter with the company’s key businesses of Refrigerators and Washing Machines both registering growth.
Mr.Arvind Uppal, Chairman and Managing Director, Whirlpool of India Limited and President South Asia and Asia Pacific, Whirlpool Corporation said "We are happy with our performance in Q3. All profitability levers - Value growth Variable Margin, EBITDA, PBT and PAT - have been better versus last year and the previous quarter. This has been achieved against considerable odds, as softness in demand, volatility in currency and commodity inflation persisted in the quarter. Our strong fiscal discipline and the new product launches on the anvil give us the confidence to look at the ensuing quarters with a sense of optimism”.
About Whirlpool Corporation
Whirlpool Corporation is the world's leading manufacturer and marketer of major home appliances, with annual sales of $19B in 2013, 68,000 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
