KEY HIGHLIGHTS OF Q2 2019-20
Total income from operations up 17.3% vs LY
Consolidated Profit before Tax (PBT) Rs 146.3 Cr
Consolidated Profit after Tax (PAT) Rs 128.7 Cr
Gurugram, Whirlpool of India, a subsidiary of Whirlpool Corporation, the world’s leading home appliance company, today announced strong operating results for the second quarter of 2019-20. Total income from operations of Rs 1432.1 Cr up 17.3% vs. LY. Standalone PBT at Rs 142.4 Cr up 18.3% vs. LY and PAT at Rs 124.8 Cr up 58.9 %
Mr Arvind Uppal, Chairman Whirlpool of India Limited said, “This was another strong quarter where we continued to perform ahead of industry with strong execution across all levers. There is a softening in consumer demand but we see this as temporary and remain optimistic about the future. Profits were boosted by corporate tax reduction.”
Mr Sunil D’Souza, Managing Director Whirlpool of India Limited said, "Despite a progressive softening of macros and consumer sentiment, Whirlpool of India navigated the quarter well and delivered strong results, growing ahead of industry driven by a stronger portfolio backed by good execution across functions and benign commodity costs. Over and above these results, the EPS was positively impacted by the recent tax reductions announced by the government. While we do see the short term headwinds continuing to put pressure on industry growth in the near term, we remain confident of delivering industry beating growth and strengthening our position to take advantage of the long term India opportunity."