Whirlpool of India, subsidiary of Whirlpool Corporation, the World’s leading Home Appliance Company announced strong financial results for its first quarter of 2014-15. Total income of Rs. 1,052 Cr grew by 19% on a year-over-year basis with record EBITDA margin at 13.1%, better by 3.1 points, over the same quarter last year and 2.9 points better than the previous quarter.
First quarter Profit after Tax was at Rs. 83.0 Cr compared to Rs. 49.6 Cr in Q1 of fiscal 2013 and Rs. 35.6 Cr. in Q4 of fiscal 2013-14, a growth of 67% over last year.
Arvind Uppal, Chairman and Managing Director, Whirlpool of India Limited and President South Asia and Asia Pacific, Whirlpool Corporation said, “We have delivered a very strong operating performance, which combined with an improvement in consumer demand has resulted in significant increase in our operating profits. We remain optimistic about our performance in the future.”
The company is on track with its plans to introduce over 200 new models in 2014 and has already put into market a new range of Air Conditioners, Refrigerators and Washing Machines. The focus on enlarging its category footprint by aggressively expanding its high-end Built In range of kitchen appliances, including refrigerators, ovens, dishwashers and coffee makers, and its water purifier business continued.
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