New Delhi, Aug 2: Whirlpool of India has announced a 150 per cent spurt in net profit to Rs 16.75 crore for the second quarter ended June, 2000, up from Rs 6.65 crore reported in the corresponding quarter in the previous year. The rise in net profit came on the back of a Rs 66 crore rise in turnover to Rs 338.59 crore, against Rs 272.81 crore reported last year.Net profit for the first half ended June 2000 stood at Rs 19.24 crore, against a net loss of Rs 7.2 crore in the corresponding half of last year. Turnover during the first half was up Rs 57 crore from Rs 480.84 crore to Rs 536.98 crore.On a stagnant equity of Rs 126.87 crore, earning per share (EPS) for the first quarter stood at Rs 1.32, against Re 0.52 for the corresponding quarter last year.
"Our strong focus on the consumer, investments behind the Whirlpool brand, driving down costs, improving quality and productivity across all areas of business is responsible for the strong performance," Whirlpool of India chairman and managing director, Garrick D'Silva said.
During April-June quarter, the company launched `Ice-magic' range of refrigerators besides microwave ovens and air conditioners, which has helped the company increase its market share. "We will continue to drive profitable volume growth across all market segments and categories in which we operate," D'Silva said.
Whirlpool is India's largest appliance company with market leadership in refrigerators and fully automatic segment of washing machines.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.