Key Highlights of Q1
· Revenue at Rs 1,052 crores, up 19% Vs previous year
· PAT of Rs 83.0 Cr at 7.9% up 67% Vs previous year of Rs 49.6 Cr
· EPS for the quarter at 6.5 vs 3.9 in previous year
Pune/New Delhi, Aug 14, 2014: Whirlpool of India, subsidiary of Whirlpool Corporation, the World’s leading Home Appliance Company today 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.
Mr. 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.
ABOUT WHIRLPOOL CORPORATION
Whirlpool Corporation is the world's leading manufacturer and marketer of major home appliances, with annual sales of approximately $19 billion in 2013, 69,000 employees, and 59 manufacturing and technology research centers around the world. The company markets Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Brastemp, Consul, Bauknecht and other major brand names to consumers in nearly every country around the world. Additional information about the company can be found at http://www.whirlpoolcorp.com.