Whirlpool shares zoom 10% on robust Q1 earnings

Shares of consumer durables firm Whirlpool of India today climbed 10 per cent after the company reported a 67.37 per cent increase in standalone net profit for the first quarter ended June 30.
Whirlpool's scrip ended the day 10 per cent higher at Rs 412.55 -- its 52-week high level on the BSE.
At the NSE, the stock soared 10 per cent to touch its one-year peak of Rs 415.35.
Whirlpool today reported a 67.37 per cent increase in standalone net profit at Rs 83 crore for the first quarter ended June 30, on robust operating margins.
The company had posted a standalone net profit of Rs 49.59 crore during the same period of the previous fiscal.

Net sales went up by 19.18 per cent to Rs 1,020.10 crore during the April-June quarter as against Rs 855.89 crore in the same period last fiscal, Whirlpool said in a statement.
"We have delivered a very strong operating performance, which combined with an improvement in consumer demand has resulted in significant increase in our operating profits. We remain optimistic about our performance in the future," said Arvind Uppal, Whirlpool of India Chairman & Managing Director and President South Asia and Asia Pacific, Whirlpool Corporation.
On the outlook, the company said its plan to introduce over 200 new models in 2014 is on track. It has already put into market a new range of air conditioners, refrigerators and washing machines.