Whirlpool India Posts 7 per cent Fall in Q2 Profit

Whirlpool India is dealing in the manufacture of home appliances. Its products consist of refrigerators, washing machine, UPS, air conditioners, water purifiers, oil built heaters and accessories.

Whirlpool recently posted its Q2FY16 results, the total income from sales and operations reduced by 4.17 per cent to Rs 713.55 crore in the second quarter of FY16, against Rs 744.57 crore in the same period of previous fiscal. The total expenses of the company decreased by 3.48 per cent to Rs 670.95 crore on yearly basis.

The EBITDA slumped by 8.81 per cent to Rs 58.58 crore against Rs 64.24 crore on yearly basis. The EBITDA margin contracted by 42 basis points to 8.21 per cent y-o-y basis. The profit before interest and taxes reduced by 13.77 per cent to Rs 42.6 per cent, other income of the company increased by 48.48 per cent to Rs 13.66 crore y-o-y basis.

Tax expenses increased by 4 per cent to Rs 18.43 crore on yearly basis. The Net Profit of Whirlpool stood at Rs 37.6 crore in Q2FY16 compared to Rs 40.72 crore in Q2FY15, declined by 7.66 per cent.

The FII holdings of the company reduced by 10 basis points to 5.75 per cent, DII holdings increased by 21 basis points to 7.88 per cent as on 30th September 2015. Today, after the disappointing result announcement , Whirlpool India is down by 0.66 per cent, trading at Rs 635 on BSE.