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Whirlpool India fiscal Q1 profit climbs 71.3% YOY

Whirlpool of India Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 6.09 Indian rupees per share, a gain of 71.2% from 3.55 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 772.4 million rupees, a gain of 71.3% from 450.8 million rupees in the prior-year period.

The normalized profit margin climbed to 7.6% from 5.3% in the year-earlier period.

Total revenue rose 19.2% year over year to 10.20 billion rupees from 8.56 billion rupees, and total operating expenses increased 14.5% year over year to 9.05 billion rupees from 7.90 billion rupees.

Reported net income grew 67.4% from the prior-year period to 830.0 million rupees, or 6.54 rupees per share, from 495.9 million rupees, or 3.91 rupees per share.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.