Whirlpool of India announces earnings for FY2020

Whirlpool of India, a subsidiary of Whirlpool Corporation, the world's leading home appliance company, today announced results for the fourth quarter of 2019-20. Total income from operations of Rs 1379,3 Cr was flat vs LY. Standalone PBT at Rs 118.9 Cr down 26.3% vs. LY and PAT at Rs 87.4 Cr down 16%. The drop in profit was attributed to lockdown In the later part of March.

On a FY basis, total income from operations of Rs 6121.2 er was up 11.2% vs LY. Standalone PBT at Rs 652.9 Cr up 4.2% vs. LY and PAT at Rs 476.3 Cr up 17%.

Mr Arvind Uppal, Chairman Whirlpool of Indra Limited said, "As expected, the lockdown has adversely impacted what was expected to be a very healthy quarter. On a full year basis, Whirlpool has had an outstanding year as we continued to perform well on key financial levers. While the full extent of this pandemic still remains uncertain, given the nature of home appliance industry, we remain optimistic that our business will bounce back sooner rather than later."

Mr Vishal Bhola,, Managing Director Whirlpool of India Limited said, "Q4 was Impacted due to the lockdown announced in March. Both topline and bottomline were significantly impacted as we were not able to produce or sell in the last 10 days of March. Pre lockdown we had a very strong momentum going our way. Our new launches in the quarter were well accepted in the market. These are uncertain times however we feel confident that Whirlpool is well placed to tide over this crisis and continue to provide value to our consumers."

Shares of WHIRLPOOL OF INDIA LTD. was last trading in BSE at Rs.2111.05 as compared to the previous close of Rs. 2069.95. The total number of shares traded during the day was 3630 in over 779 trades.

The stock hit an intraday high of Rs. 2134.95 and intraday low of 2073.65. The net turnover during the day was Rs. 7627113.

Source : Equity Bulls

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