Whirlpool Q4 net profit declines by 33%

Written by PTI | New Delhi | Updated: May 14 2013, 21:30pm hrs
Consumer durables maker Whirlpool of India today reported 33.40 per cent decline in its net profit at Rs 24.75 crore for the quarter ended March 31.

The company had posted a net profit of Rs 37.16 crore in the corresponding period last year, Whirlpool of India said in a statement.

The net income during the quarter also went down by 3.47 per cent to Rs 626.85 crore from Rs 649.37 crore in the year-ago period, it added.

For the entire 2012-13 financial year, the company's net profit rose by 3.25 per cent to Rs 127.75 crore from Rs 123.73

crore in the previous fiscal, the statement said.

The net income during last fiscal stood at Rs 2,772.73 crore compared to Rs 2,657.94 crore in FY'12, up 4.32 per cent, it added.

Commenting on the results, the company said: "The home appliances industry has seen unprecedented slowdown in demand for several quarters. Whirlpool has bucked the trend and grown net revenue by about 5 per cent and gained market share."

Shares of Whirlpool of India closed 4.66 per cent higher at Rs 207.85 apiece on the BSE today.