Profit before tax (PBT) in the third quarter of FY25 stood at Rs 59.19 crore, up by 40.09% from Rs 42.25 crore in same quarter last year.
Consolidated EBITDA grew by 10.6% year on year (YoY) to Rs 69.3 crore in the quarter ended 31 December 2023.
The firm’s operational EBITDA grew by 35.3% YoY before the impact of provision for an additional price upcharge of Rs 15.5 crore as against last year, on account of new E-Waste regulations affecting the industry.
The household appliances maker said, “The business has shown strong momentum with double digit revenue growth in three consecutive quarters including this one despite a soft growth in refrigerator and washing machine industry. Topline growth was driven by very strong YOY share improvement which continued in this quarter.
Not only has overall refrigerator and washing machine volume share improved very significantly over last year, growth is broad based with excellent share gains in direct cool, frost free refrigerators, fully automatic top load and Front load washing machines which signals robustness of the brand pull and executional excellence.
Improvement in gross margins was driven by calibrated price actions, improved execution in high margin portfolio and the benefits from cost productivity actions offsetting the impact of commodity inflation. Whirlpool India delivered a healthy more than 70% growth in consolidated PBT for the 9 months ended Dec 24. Elica PB India, company's subsidiary continues to deliver healthy PBT margins.”
Whirlpool of India is primarily engaged in manufacturing and trading of refrigerators, washing machines, air conditioners, microwave ovens and small appliances and caters to both domestic and international markets.
Shares of Whirlpool of India shed 1.63% to Rs 1,131 on the BSE.