The company reported a consolidated net profit of ₹103 crore for the June quarter, down 29.4% from ₹146 crore in the corresponding period last year. Revenue rose 12% year-on-year to ₹2,727 crore from ₹2,432 crore a year ago.
Earnings before interest, tax, depreciation and amortisation (EBITDA) declined 34% to ₹140 crore from ₹211 crore in the year-ago quarter. EBITDA margin narrowed to 5% from 8.7% a year earlier.
Profit before tax declined to ₹138.8 crore from ₹196.4 crore in the corresponding quarter last year. Total expenses increased to ₹2,656.9 crore from ₹2,289.9 crore, led by higher raw material costs, employee expenses and other operating costs.
Cost of raw materials and components consumed rose to ₹1,427 crore from ₹1,187.3 crore, while employee benefit expenses increased to ₹242.9 crore from ₹221.1 crore. Other expenses also climbed to ₹439.3 crore from ₹380.7 crore.
Finance costs rose marginally to ₹14.8 crore from ₹15.2 crore, while depreciation and amortisation expense increased to ₹54.5 crore from ₹53.6 crore. The company reported total comprehensive income of ₹103.8 crore, compared with ₹146.6 crore in the year-ago period.
Whirlpool said it continues to operate in a single reportable segment—Home Appliances. The consolidated financial results include the performance of its wholly owned subsidiary, Whirlpool of India Kitchen Appliances Private Limited.
Separately, the board approved a series of senior management changes. Anish Ahuja, currently Head of Service, will move to the role of Chief Operating Officer at subsidiary Whirlpool of India Kitchen Appliances from September 1.
The company also accepted the resignation of Ankit Gupta, Head of Manufacturing Finance, effective August 14, and appointed Sourav Chakravarty as the new Head of Manufacturing Finance from August 10.
Earlier this week, the company’s parent, Whirlpool Corp. cut its earnings outlook for the full year due to slowing consumer demand.
Shares of the company fell as much as 4.8% following the results announcement to an intraday low of ₹781.15. The stock is off the initial slump, now trading 1.7% lower at 806.25. The stock is down 10% so far for the year.
