Whirlpool Q2 Profit Dips 25%, Revenue Up 13%

14 Nov 2024 , 09:32 AM

Whirlpool of India Ltd reported a 25.4% year-on-year drop in net profit for Q2 FY25, with net profit at ₹287 Crore, down from ₹384.7 Crore in the same quarter last year.

Revenue from operations rose by 13% to ₹1,582 Crore, compared to ₹1,400 Crore in the year-ago period. EBITDA for the quarter increased by 31% year-on-year, reaching ₹68.4 Crore, up from ₹52.2 Crore in Q2 FY24. The EBITDA margin improved to 4.3% this quarter from 3.7% in the corresponding quarter last year.

Whirlpool’s board has approved an expansion plan for its Pune plant to increase refrigerator production capacity. Current annual capacity at the Pune facility is 54 lakh units, with a utilization rate of around 63%. The planned expansion will add three lakh units annually, expected to roll out in phases by July 2026.

An investment of ₹270 Crore has been allocated for the expansion, to be funded through internal resources. The additional capacity aims to meet rising demand in the refrigerator segment, according to Whirlpool.