Whirlpool of India Q3 Results: Net profit jumps 48.8% to ₹44.5 crore, revenue rises 11%

Consumer durables maker Whirlpool of India Ltd on Tuesday reported a 48.78% jump in its consolidated net profit to ₹44.53 crore for the third quarter ended December 2024, helped by calibrated price actions and improved execution in a high margin portfolio.

The company had posted a net profit of ₹29.93 crore during the October-December quarter a year ago, Whirlpool of India, a subsidiary of Whirlpool Corporation, said in a regulatory filing.

Its revenue from operations rose 11% to ₹1,704.85 crore during the quarter under review. It was ₹1,535.65 crore in the corresponding period of the previous fiscal.

Whirlpool of India shares are currently trading 2.25% down at ₹1,124.05 apiece on the NSE on Wednesday at 10:21 pm.

The company's "improvement in gross margins was driven by calibrated price actions and improved execution in high margin portfolio" and the "topline growth was driven by very strong YOY share improvement which continued in this quarter", Whirlpool of India said in its earnings statement.

The business has shown strong momentum with double-digit revenue growth in three consecutive quarters, including this one despite a soft growth in the refrigerator and washing machine industry, it added.

"Not only has overall refrigerator and washing machine volume share improved very significantly over last year, but growth is also broad-based with excellent share gains in direct cool, frost-free refrigerators, fully automatic top load and Front-load washing machines, which signals robustness of the brand pull and execution excellence," it said.

Whirlpool of India's total expenses increased 10.9% to ₹1,696.17 crore in the December quarter.

Its total income, which includes other income, rose 11.72% to ₹1,755.36 crore in the December quarter.

Shares of Whirlpool of India Ltd on Tuesday settled at ₹1,149.75 apiece on BSE, down 2.73% from the previous close.