Whirlpool’s India arm stories 22% decline in web revenue to Rs 38.2 crore

Business Standard

Indian shopper items maker Whirlpool Ltd on Friday reported a 22.07 per cent decline in consolidated web revenue to Rs 38.20 lakh crore for the second quarter ended September 30 in comparison with Rs 49.02 lakh crore in the identical quarter final yr. Internet revenue fell by greater than half from Rs 76.72 crore within the earlier quarter.

Whirlpool India is a subsidiary of US-based Whirlpool Company.

The corporate’s income from operations declined by 5.58 per cent to Rs 1,521.56 crore in the course of the quarter below evaluate as towards Rs 1,611.54 crore final yr. Within the earlier quarter, it reported income from operations of Rs 2,038.59 crore.

The corporate’s complete bills stood at Rs 1,503.17 crore within the quarter, down 4.06 per cent in comparison with the identical interval final yr. Complete earnings within the September quarter was Rs 1,55,5.45 lakh crore, down 4.8 per cent.

Final week, the mum or dad firm minimize its full-year earnings forecast, indicating decrease demand for laundry machines and kitchen home equipment. In accordance with a report by Reuters, shoppers are chopping again on spending on big-ticket objects as the price of residing rises in the USA. It is usually affected by the rise in rates of interest over the previous yr to cut back excessive inflation and fears of a slowdown within the world financial system.

The corporate now expects earnings per share to be round $16, in comparison with its earlier forecast of $16 to $18.

As of two:10 pm, shares of Whirlpool of India had been buying and selling at Rs 1,604.45 per share on the BSE.

(With company inputs)

First revealed: November 3, 2023 | 2:25 pm he

(Tags for translation)Swirl India second quarter consequence

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