Whirlpool net profit down 24.6% YoY to Rs 63.7 crore in Jan-Mar quarter

Consumer durables maker Whirlpool of India Ltd on Wednesday reported a 24.58 per cent decline in its consolidated net profit at Rs 63.71 crore for the fourth quarter ended March 2023.

The company had posted a net profit of Rs 84.48 crore during the January-March quarter of the previous fiscal, Whirlpool of India, a subsidiary of Whirlpool Corporation said in a regulatory filing.

Its revenue from operations was down 2 per cent to Rs 1,672.65 crore during the quarter under review against Rs 1,706.91 crore in the corresponding period of the previous fiscal.

Whirlpool of India's total expenses were at Rs 1,624.89 crore in the quarter, up 1.08 per cent over the year-ago period.

Its total income in the March quarter was marginally down to Rs 1,704.94 crore.

Consolidated financial results comprise the financial results of the company and its subsidiary Elica PB, a kitchen appliances maker, which it had acquired in FY2021-22, it said.

For the fiscal year ended March 2023, Whirlpool of India's net profit was down 60.51 per cent to Rs 224.01 crore. It had reported a net profit of Rs 567.37 crore in the year-ago period.

Its consolidated revenue from operations was at Rs 6,667.65 crore in FY23, 7.6 per cent higher than the preceding fiscal year.

The Board of Whirlpool of India at its meeting held on Wednesday recommended a final dividend of Rs 5 per equity share of the face value of Rs. 10/- each for the financial year 2022-23.

Shares of Whirlpool of India Ltd on Wednesday settled at Rs 1,351.55 on BSE, down 0.85 per cent from the previous close.