Whirlpool Q4 profit rises 44% to Rs 35.5 cr

Consumer durables firm Whirlpool of India today reported a 43.63% increase in net profit at Rs 35.55 crore for the fourth quarter ended March 31, 2014 on account of higher other income.

The company had posted a net profit of Rs 24.75 crore during the same period in the previous fiscal.

Net sales went up by 5.60% to Rs 636.68 crore during the quarter under review, Whirlpool said in a filing to the BSE.

It reported other income of Rs 8.31 crore in the fourth quarter of the last fiscal compared with Rs 3.92 crore in the same period of the previous year.

Overall expense stood at Rs 623.49 as against Rs 593.79 crore in the corresponding period last year.

During 2013-14, the company's net profit stood at Rs 122.91 crore compared with Rs 127.75 crore in the year-ago period.

Arvind Uppal, Whirlpool of India CMD and Whirlpool Corporation President, South Asia and Asia Pacific, said: "Our strong focus on operational excellence and product innovation is starting to deliver results and all business levers are trending in the right direction. We remain confident about the business results in the coming quarters."

Shares of the company closed at Rs 258.45 a scrip on the BSE at the end of the day's trade, up 6.07% from their previous close.