Whirlpool posts record Q2 net profit at Rs 30.55 cr

The company had posted a net profit of Rs 24.93 crore in the corresponding period last fiscal, Whirlpool of India said in a statement. The total income during the second quarter also jumped by 19.91 per cent to Rs 590.32 crore from Rs 492.32 crore in the year-ago period, it added.

The company said its sales volume during the last quarter grew by 16 per cent. "We are pleased with our results. Our revenue growth would have been higher had the prolonged monsoon not adversely impacted offtake of air conditioners and refrigerators which nonetheless grew by 18 per cent and 92 per cent in value," Whirlpool President Asia Pacific Arvind Uppal said.

The company's focus in the coming quarters will be on improving margin through a combination of price and product mix initiatives, besides focusing on operating excellence and cost efficiencies, he added.

"Inflation in commodities led to higher material cost and while price increases were taken, the full impact will be seen in the coming months," Uppal said.