Whirlpool of India quarterly profit declines 35% to Rs 84 cr

New Delhi: Consumer durables maker Whirlpool of India Ltd on Wednesday reported a decline of 35.04 per cent in consolidated net profit at Rs 84.48 crore for the fourth quarter ended March.

The company had posted a net profit of Rs 130.06 crore during the March quarter of the previous fiscal, Whirlpool of India, a subsidiary of Whirlpool Corporation said in a regulatory filing.

Its revenue from operations was down by 4.07 per cent at Rs 1,706.91 crore during the quarter under review as against Rs 1,779.39 crore in the corresponding period of the previous fiscal.

Total expenses were at Rs 1,607.47 crore, down 1.15 per cent in Q4/FY 2021-22, as against Rs 1,626.20 crore in the same period a year ago.

For the fiscal year ended March 2022, Whirlpool of India's consolidated net profit was up 61.26 per cent at Rs 567.37 crore. It had reported a net profit of Rs 351.83 crore in the previous fiscal.

Its revenue from operations was at Rs 6,196.57 crore in 2021-22. This is 5.02 per cent higher than Rs 5,899.89 crore in the year-ago period.

In a separate filing, Whirlpool of India said its board in a meeting held on Wednesday has recommended a dividend of 50 per cent, which is Rs 5 per equity share of the face value of Rs 10 each for the financial year 2021-22.

Moreover, the board has also approved the re-appointment of A H Bhavanarayana Reddy as the Executive Director of the company for a period starting from February 2, 2023 till August 31, 2024.

Shares of Whirlpool of India Ltd on Wednesday settled at Rs 1,492.05 on BSE, down 2.76 per cent from the previous close.