Whirlpool swings to profit in FY08 on better sales & margin May 29, 2008
Posted by whirlpoolofindia in Whirlpool India.Tags: whirlpool profit, whirlpool sales
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Whirlpool of India, a leading manufacturer of home appliances, swung to a profit for the year ended March 2008, due to healthy growth in sales and improvement in operating efficiency. During the year, the company reported profit of Rs 323.20 million compared with a loss of Rs 53.20 million in the previous year.
Net sales for the year rose 21.60% to Rs 18,004.40 million, while total income during the year rose 20.82% to Rs 18,084.20 million, when compared with the prior year. It posted earnings of Rs 1.14 a share during the year compared with a loss of Rs 1.62 a share in prior year.
|
Annual Results – Standalone (Rs in mn) |
|||
|
As at |
Mar – 08 |
Mar – 07 |
%Change |
|
Net Sales |
18004.40 |
14805.80 |
21.60 |
|
Net Profit |
323.20 |
(60.40) |
0.00 |
|
Basic EPS |
1.14 |
(0.18 ) |
0.00 |
During the year, the company disclosed a rise in operating margin of 120.66 basis points to 4.40% on lower input cost. Interest cost increased 28.46% to Rs 209.90 million while depreciation cost rose 8.51% to Rs 373.50 million over previous year.
Shares of the company gained Rs 2.2, or 4.62%, to settle at Rs 49.8. The total volume of shares traded was 70,631 at the BSE. (Tuesday)
Source – www.myiris.com
