Whirlpool posts muted performance in Q3FY18
Whirlpool reported muted performance for the quarter ended December 31, 2017 on Friday. The company's standalone revenue for the quarter came in at Rs. 958.01 crore, registering 6.3 per cent yoy increase.
EBITDA for the quarter rose by 5.7 per cent yoy to Rs. 89.14 crore with a corresponding margin contraction of 5 bps. EBITDA margin for the quarter stood at 9.3 per cent. The PAT for the quarter came in at Rs. 53.14 crore, yoy decline of 4.1 per cent. This was led by jump in effective tax rate from 32 per cent to 36 per cent.
Looking at nine-month numbers, we see that revenue jumped by 15 per cent to reach Rs. 3,728.09 crore while EBITDA rose by 15 per cent to 420.65 crore. The company reported net profit of Rs. 259.29 crore, up 10 per cent yoy.
Whirlpool of India Limited is a manufacturer of home appliances. The company is primarily engaged in manufacturing and trading of Refrigerators, Washing Machines, Air Conditioners, Microwave Ovens and small appliances and caters to both domestic and international markets. It provides services in the area of product development, and procurement services to Whirlpool Corporation, United States and other group companies.
On Friday, the stock opened at Rs. 1,484.50 and touched an intra-day high and low of Rs. 1,520.85 and Rs. 1,437.95, respectively, on the BSE.