Whirlpool of India reported mixed Q1FY19 numbers with sales below street estimates and profit in-line with estimates. Sales have increased by 12.8% yoy to Rs1,651.1cr as vs. expectation of Rs1,747cr. EBITDA increased by 15.8% yoy to Rs244cr during the quarter from Rs210.8cr in Q1FY18 vs. expectation of Rs252cr. EBITDA margin improved by 38bps yoy to 14.8% in Q1FY19. Net profit grew by 23.4% yoy to Rs163.8cr, in-line with estimates.
• Sales growth was led by addition of new products/models in the portfolio.
• EBITDA growth was driven by operating leverage resulting in margin expansion as well.
• Other income was up by 63% yoy to Rs35.7cr. Thus, strong operating performance and other income in the quarter steered the growth in net profit.
Whirlpool of India Ltd is currently trading at Rs. 1,730.50, down by 8.3 points or 0.48% from its previous closing of Rs. 1,738.80 on the BSE.
The scrip opened at Rs. 1,753.65 and has touched a high and low of Rs. 1,775 and Rs. 1,714.40 respectively. So far 1,06,791 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.
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