Whirlpool of India reported 13.91 percent increase in profit at Rs 104.1 crore for the fourth quarter ended March 31, 2019. The company posted a profit of Rs 91.38 crore in the year-ago quarter. Total income from operations during the quarter under review stood at Rs 1,380.5 crore, up 7.6 percent from Rs 1,282.42 crore in the year-ago period.
Sunil D’souza, managing director, Whirlpool of India, shared his views and outlook.
“The margins are a factor of overall demand and supply. From a demand perspective, I think the team worked very well to put a very strong portfolio plan in place expanding our offerings in the market at both ends of the spectrum – both the entry as well as the premium side. So we have had a series of launches on both sides of the spectrum and our distribution has grown along with that. It has strengthened our execution in the market place,” D’souza said.
“On the supply side itself, margins are a factor of commodity and currency volatility. I wouldn’t hazard a guess on where commodities and currencies are going, as of now we do see a bit of volatility, especially in the oil and therefore downstream of oil commodities. Currencies look to be stable especially with the recent elections. We have seen ups and downs through the years, we will be able to tackle volatility if it comes our way,” he said.
“If the government continues on the reform-driven agenda, ease of doing business, push on infrastructure and more importantly putting more money in the hands of the common man, we are a penetration driven market. The India growth story for appliances is largely driven by penetration. We do see double-digit growth continuing for some time to come,” D’souza added.―CNBC TV18