Whirlpool of India’s profits soar by nearly 100% in sensational Q1 2024-25 results

Whirlpool of India Limited has announced impressive financial results for the first quarter of the fiscal year 2024-25. The company’s consolidated revenue from operations reached Rs. 2,496.9 crore, marking a significant 22.5% increase compared to the previous year. The company’s consolidated EBITDA also showed strong performance, reaching Rs. 210.9 crore, up by 70.9% year-on-year.

The financial highlights further reveal that the consolidated Profit Before Tax (PBT) stood at Rs. 195.9 crore, reflecting an exceptional 98.7% growth from the previous year. Additionally, the Profit After Tax (PAT) for the quarter was Rs. 145.3 crore, up by 89.4% compared to the same period last year.

On a standalone basis, Whirlpool of India Limited’s revenue from operations was Rs. 2,383.7 crore, which represents a 24.0% increase year-on-year. Standalone EBITDA was Rs. 193.3 crore, reflecting a robust 92.9% growth. Standalone PBT and PAT were reported at Rs. 180.9 crore and Rs. 134.0 crore, respectively, showing increases of 128.4% and 115.2% from the previous year.

The notable revenue growth was driven by strong market share gains in refrigerators and washing machines, alongside industry-wide growth in these segments and air conditioners. The improvement in EBITDA and PBT was largely attributed to robust volume growth, cost productivity measures, and an enhanced mix of premium and high-margin products.

Arvind Uppal, Chairman of Whirlpool of India Limited, commented on the results, noting that a combination of positive macroeconomic factors and effective execution by the team led to a significant improvement in financial performance. He highlighted the company’s increased market share and expressed optimism about future prospects.

Narasimhan Eswar, Managing Director of Whirlpool of India Limited, elaborated on the factors driving revenue growth. He attributed the strong performance to gains in market share across refrigerators and washing machines and a successful summer season for refrigerators and air conditioners. Eswar emphasised the company’s strategic focus on return on investment and cost management, which has consistently driven profit growth ahead of revenue increases.

Whirlpool of India Limited, headquartered in Gurugram, is a leading manufacturer and marketer of major home appliances in India. The company operates three state-of-the-art manufacturing facilities located in Faridabad, Puducherry, and Pune.

Key Highlights for Q1 2024-25

• Consolidated Revenue from Operations increased by 22.5% year-on-year
• Consolidated Profit Before Tax (PBT) surged by 98.7% to Rs. 195.9 crore
• Consolidated Profit After Tax (PAT) rose by 89.4% to Rs. 145.3 crore