Whirlpool of India, a subsidiary of world's leading home appliance company Whirlpool Corporation, has reported strong operating results for the first quarter of 2019-20.
Total income from operations rose to Rs 2001.6 crore, up 18.7 per cent from the same period last year. The standalone profit before tax was Rs 294.9 crore, a 17.6 per cent increase against the same period last year.
"Whirlpool continued its strong momentum across all key levers, volume, profit, and cash. These results came on the back of robust execution, market share gains, and an extended summer. We remain confident about the future despite the emergence of short term macroeconomic headwinds", said Arvind Uppal, Chairman, Whirlpool of India Limited.
"We delivered strong results for the quarter both on the top line and bottom line. We saw a great response to our new launches across categories. While the front end drove great execution to strengthen our market position, the plants ramped up to top-notch utilization to support the momentum. While we do see some macro headwinds and uncertainty in the short term, given our current product pipeline and execution capabilities, we remain confident of continuing to deliver top-notch results ahead", said Sunil D'Souza, Managing Director, Whirlpool of India Limited.
Whirlpool Corporation is the world's leading home appliance company with approximately USD 21 billion in annual sales, 65 manufacturing and technology research centres in 2018. Whirlpool of India, the Indian subsidiary of Whirlpool Corporation, is listed on Bombay Stock Exchange and National Stock Exchange.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.