Whirlpool of India, a subsidiary of Whirlpool Corporation, the world’s leading home appliance company, today announced record operating results for the fourth quarter of 2016-17. Total income of Rs. 1,114 Cr, the highest ever for the quarter, Cr. grew by 19.2% and Profit after Tax at Rs.74.4 Cr was higher by 7.3% % over the same quarter last year.
Increased margins driven by volume growth across all product categories, and other cost management initiatives, contributed to the record quarter performance.
Whirlpool of India delivered an all time high full year financial performance for the year 2016-17 with the highest ever Revenue of Rs. 4360 Crs and PAT at Rs. 310.5 Crs. and a 140 basis point improvement in PBT.
Mr. Arvind Uppal, Chairman Whirlpool of India Limited and President Asia Pacific, Whirlpool Corporation said, “We have delivered very healthy margins and cash on the back of a record year. Confidence on the business going forward is high and the Board has proposed a maiden dividend of 30%”
Mr Sunil D’Souza, Managing Director Whirlpool of India Limited said, “After a challenging December quarter we have seen some growth coming back into the industry this quarter. Despite some commodity spikes, the focus on driving distribution and new product launches has helped us drive strong results this quarter. Going forward, while we do have to tackle the transition into GST, end of June, we see continued growth in the industry basis positive macroeconomic indicators. Our continued focus on geographic and portfolio expansion coupled with strong pipeline of product launches gives us confidence of continuing to drive the momentum going forward.”
ABOUT WHIRLPOOL CORPORATION
Whirlpool Corporation (NYSE: WHR) is the number one major appliance manufacturer in the world, with approximately $21 billion in annual sales, 93,000 employees and 70 manufacturing and technology research cent ers in 2016. The company markets Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, Jenn-Air, Indesit and other major brand names in nearly every country throughout the world.