New Delhi: Consumer durables maker Whirlpool of India Ltd on Wednesday reported a 24.58 per cent decline in its consolidated net profit at Rs 63.71 crore for the fourth quarter ended March 2023. The company had posted a net profit of Rs 84.48 crore during the January-March quarter. Whirlpool of India, a subsidiary of Whirlpool Corporation, said in a regulatory filing last fiscal.
Its revenue from operations declined by 2 per cent to Rs 1,672.65 crore during the quarter under review as against Rs 1,706.91 crore in the same period last fiscal. ,Read also: In pictures: 8 most dangerous animals in the world,
Whirlpool of India’s total expenses for the quarter stood at Rs 1,624.89 crore, up 1.08 per cent over the year-ago period. Its total income declined marginally to Rs 1,704.94 crore in the March quarter. ,Also read: From SBI to HDFC, these 7 banks are offering the cheapest home loan interest rates,
The consolidated financial results include the financial results of the company and its subsidiary, kitchen appliance maker Elica PB, which it acquired in FY 2021-22.
For the financial year ending March 2023, Whirlpool of India’s net profit declined by 60.51 per cent to Rs 224.01 crore. It had reported a net profit of Rs 567.37 crore in the year-ago period.
Its consolidated revenue from operations in FY23 was Rs 6,667.65 crore, up 7.6 per cent over the previous fiscal.
The board of Whirlpool of India, in its meeting held on Wednesday, recommended a final dividend of Rs 5 per equity share of face value of Rs. 10/- for each financial year 2022-23.
Shares of Whirlpool of India Ltd closed at Rs 1,351.55, down 0.85 per cent on the BSE on Wednesday.