WHIRLPOOL OF INDIA Announces Quarterly Results (2QFY20); Net Profit Up 58.9%

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WHIRLPOOL OF INDIA Announces Quarterly Results (2QFY20); Net Profit Up 58.9%
Thu, 14 Nov

WHIRLPOOL OF INDIA has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

WHIRLPOOL OF INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m11,81519,74213,935-29.4%17.9%
Other incomeRs m39827438741.0%-2.8%
TurnoverRs m12,21320,01614,322-28.5%17.3%
ExpensesRs m10,73716,71812,517-25.1%16.6%
Gross profitRs m1,0783,0251,417-53.1%31.5%
DepreciationRs m26930533710.5%25.3%
InterestRs m34543-3.1%1565.4%
Profit before taxRs m1,2042,9491,424-51.7%18.3%
TaxRs m4191,041176-83.1%-58.1%
Profit after taxRs m7861,9081,248-34.6%58.9%
Gross profit margin%9.115.310.2
Effective tax rate%34.835.312.3
Net profit margin%6.49.58.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 17.9% on a year-on-year (YoY) basis. The expenses were up by 16.6% YoY during the same period.
  • The company's operating profit increased by 31.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.2% in 2QFY20 as against 9.1% in 2QFY19.
  • Depreciation charges increased by 25.3% and finance costs increased by 1565.4% YoY, respectively.
  • Other income declined by 2.8% YoY during the quarter.
  • Net profit for the quarter increased by 58.9% YoY. Net profit margins during the quarter increased from 6.4% in 2QFY19 to 8.7% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 29.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 25.1% QoQ during the same period.
  • The company's operating profit declined by 53.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.2% in 2QFY20 as against 15.3% in 1QFY19.
  • Net profit for the quarter declined by 34.6% QoQ, while net profit margins declined from 9.5% in 1QFY19 to 8.7% in 2QFY20.

To see how WHIRLPOOL OF INDIA has performed over the last eight quarters,please visit here.

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WHIRLPOOL OF INDIA Share Price Performance

Over the last one year,WHIRLPOOL OF INDIA share price has moved up from Rs 1,427.8 to Rs 2,231.4, registering a Gain of Rs 803.6 or around 56.3%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 25,208.9 (up 0.1%). Over the last one year it has moved up from 19,760.2 to 25,208.9, a gain of 5,449 points (up 27.6%).

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 2,231.4, the price to earnings (P/E) ratio of WHIRLPOOL OF INDIA stands at 58.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 13.2 times.

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