WHIRLPOOL OF INDIA LTD. - 500238 - Business Responsibility and Sustainability Reporting (BRSR)
As enclosed09-08-2023
Q1FY24 Quarterly Result Announced for Whirlpool of India Ltd.
Consumer Electronics company Whirlpool of India announced Q1FY24 results: Consolidated Q1FY24 vs Q1FY23: Total revenue from operations of Rs 2,038.6 crore, lower by 2% EBITDA of Rs 123.4 crore, lower by 6.4% PBT of Rs 98.6 crore, lower by 13.6% PAT of Rs 76.7 crore, lower by 9.3% Elica India delivered double-digit revenue growth and strong profit growth. Standalone Q1FY24 vs Q1FY23: Total revenue from operations of Rs 1,922.9 crore, lower by 3.1%. Revenue in April and May was impacted by subdued industry growth in Refrigerators & Air Conditioners due to inclement weather, however, our revenue grew well in June 2023. Q1FY24 EBITDA of Rs 100.2 crore was lower by 14.7% PBT of Rs 79.2 crore was lower by 24.7% Q1FY24 PAT of Rs 62.2 crore was lower by 20.1% Arvind Uppal, Chairman, Whirlpool of India said, "The quarter was weak overall as we faced multiple headwinds. We are starting to see the first signs of a momentum change. With a new Managing Director in place, I am confident that we will start to see a much stronger execution and am optimistic about the future." Narasimhan Eswar, Managing Director, Whirlpool of India said, "Despite a relatively weak summer season for the industry due to unseasonal weather patterns, Whirlpool delivered a +3% consolidated volume growth for the quarter showing progressive momentum in market shares and achieving -2% in revenues. We expect the sales momentum to continue as we gain from new products launched earlier this year and on the back of stronger ROI-focused execution. We will continue our focus on improving profitability in the medium term through portfolio premiumization and driving cost reduction programs that have already been put in place. Elica India continues its stellar run on sales and profits." Result PDF07-08-2023
Whirlpool Q1 earnings: India unit posts 10.6% drop in profit due to soft demand
Whirlpool of India said consolidated net profit for the three months ended June 30 fell to 748.8 million from 837.3 million a year earlier.07-08-2023