Home appliances maker Whirlpool of India today reported 97.63% increase in net profit at Rs 28.38 crore for the quarter ended September 30.
The company had posted net profit of Rs 14.36 crore in the corresponding period last year, Whirlpool said in a statement.
The net income during the July-September quarter of this fiscal also went up by 9.74% to Rs 633.24 crore from Rs 577.06 crore in the year-ago period, it added.
"We are happy with our results, which have been achieved under difficult market conditions. I attribute this to our relentless focus on innovation and cost, both of which have played a role in the quarter's results," Whirlpool India Chairman and Managing Director Arvind Uppal said.
The new products that were launched in this summer have strengthened the company's market presence, he added.
"With the festive season upon us and more products in the offing, we are optimistic of growing our market share as we go forward," Uppal said.
The company's scrip closed 2.11% down at Rs 249.95 on the BSE.