Whirpool of India stocks sinks 5% despite strong Q1 earnings

The company’s Q1 PAT rises 41.7% yoy to Rs25.5cr. Total revenue from operations stood at Rs1,341cr in Q1FY22 up 30.5% yoy.

Aug 11, 2021 11:08 IST India Infoline News Service

Whirlpool Of India
Whirlpool of India Limited on Tuesday announced strong operating results for the first quarter of 2021-22. Total revenue from operations of Rs1,341cr in Q1FY22 up 30.5% yoy against Rs1027cr in Q1FY21. EBITDA of Rs55.5cr up by 18.7% yoy.

Consolidated Profit Before Tax (PBT) at Rs34.9cr in Q1FY22 up by 42.9% yoy from Rs24.40cr in Q1FY21. Profit After Tax (PAT) stood at Rs25.5cr up by 41.7% yoy from Rs15.75cr in Q1FY21.

The company stock was under pressure on Wednesday and at around 11.18 AM, Whirlpool of India Ltd. was trading at Rs2,004.30 per piece down by Rs108.3 or 5.13% from its previous closing of Rs2,112.60 per piece on the BSE.

Arvind Uppal, Chairman Whirlpool of India Limited said, "The results have been very good despite the double headwinds of lockdown and inflation. It was a very challenging quarter, given the severity of the second wave and the significant supply-side disruptions. Our business continues to be in good health and we feel confident about the future."

Vishal Bhola, Managing Director Whirlpool of India Limited said, “Despite significant disruptions in Q1, the growth momentum for us continued. We delivered strong operating results with 31% Revenue growth and 43% growth on Profit. We expect buoyancy in the market with pent up demand and upcoming festive season fuelling growth. There continue to be headwinds on commodity and freight costs. Overall, we continue to be optimistic about the short and medium term prospects for the company.”

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