November 3, 2016 7:38:06 pm
Consumer durables firm Whirlpool of India on Thursday reported a jump of 64.43 per cent in its standalone net profit at Rs 58.72 crore for the quarter ending September. The company had posted a standalone net profit of Rs 35.71 crore during the same period of the previous fiscal, it said in a statement.
Watch What Else is Making News
Its total income from operations during the July-September quarter stood at Rs 938.91 crore as against Rs 781.58 crore in the same period last fiscal.
“We saw growth in consumer demand across categories this quarter with the initial impact of the pay commission payouts and the good monsoon,” Whirlpool of India Managing Director Sunil D’Souza said.
“The favourable shift in festival timing also helped comparisons versus last year. Our focus on strong execution of products and plans, leveraging commodity opportunities and the drive for costs and efficiencies translated into margin improvements and healthier profits,” he added.
Whirlpool of India Chairman and Whirlpool Corporation President Asia Pacific Arvind Uppal said, “Strong growth continued on the back of a pick up in urban demand, aided by the favourable timing of Diwali. The impact of good monsoons, 7th Pay Commission, increased infrastructure spending and a benign cost environment augurs well for the industry. We continue to remain bullish on our business in India.”
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.