Whirlpool Q4FY24: Consumer Durables Giant Reports a Surge in Net Profit by 24.7%

Whirlpool of India Ltd. reported a 24.7 per cent increase in its Q4 net profit to Rs 79.5 crore, with revenue rising by nearly 3.66 per cent
 Quarterly Earnings
Quarterly Earnings

Whirlpool of India Ltd., the consumer durable giant, recorded a consolidated net profit of Rs 79.45 crore in the March quarter, an increase of 24.7 from the corresponding period of last year. 

In the previous fiscal's January-March quarter, the company had reported a net profit of Rs 63.71 crore. Meanwhile, revenue from operations for the company witnessed a 3.66 per cent increase to Rs 1,734 crore during Q4FY24.

At 12:00 pm, the shares of the company were trading at Rs 1,585.75 price level, up by 0.39 per cent on the National Stock Exchange.

Its growth in profit was "driven by the volume growth, strong cost productivity actions leading to better margins and improved mix of premium and high margin portfolio," said an earning statement from the company.

"While the market for refrigerators and washers was flattish, our market shares for Jan-March have grown significantly compared to the same period last year driving the modest revenue growth," it said.

Whirlpool of India's total expenses were at Rs 1,660.4 crore in the March quarter, up 2.1 per cent.

Its total income in the March quarter was up 5.2 per cent Rs 1,793.52 crore.

For FY24, Whirlpool of India's consolidated net profit was flat at Rs 224.30 crore as against Rs 224.01 crore a year earlier.

Whirlpool of India's revenue from operations for FY24 was Rs 6,829.8 crore, up 2.43 per cent.

In a separate filing, Whirlpool of India said its board in a meeting on Monday recommended a final dividend of 50 per cent, which is Rs 5 per equity share of the face value of Rs 10, for FY24. 

On an annual basis, the shares of the company have delivered a return of nearly 16 per cent on the NSE.

(With Inputs From PTI)

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