Whirlpool to post operating profit

Whirlpool of India Limited (WIL), manufacturer and marketer of home appliances, will be investing up to $20 million to enhance its product portfolio over the next 18 months.

The company, which started its operations in India 11 years back, will be posting operating profits during 2005-06 as against Rs 46 crore loss in the previous year. During the first nine-month of the last financial year, the company posted a turnover of Rs 969 crore and an operating profit of Rs 1.52 crore. The company is yet to announce its fourth quarter results for the year.

"The year 2005 had been a good year for us," Whirlpool India managing director Arvind Uppal, said, adding that the company witnessed a growth of 25.2 per cent in net sales during April-December 2005 over the same period in 2004.

WIL, a subsidiary of the $14 billion Whirlpool Corporation, launched four new products "� Fusion and Delight refrigerators, JeChef microwaves and WhiteMagic Splash washing machines "� in Andhra Pradesh, Karnataka and Kerala on Saturday. The company expects to notch up a 26 per cent market share in the refrigerator category, 10 per cent in the microwave category and 16 per cent in the washing machine category in the country during the current year.

Uppal told mediapersons that the newly launched products would be supported by a multimedia campaign. The company has earmarked about Rs 44 crore as advertising and marketing spend for this year.