Consumer durables manufacturer Whirlpool India on Monday reported a three-fold increase in its net profit to Rs 57.72 crore for the quarter ended March 31, 2010 -- the highest ever in a three-month period.
The company had reported a net profit of Rs 17.72 crore in the quarter ended March 31, 2009, Whirlpool said in a statement.
The company had reported total sales of Rs 577.54 crore during the quarter under consideration, against Rs 374.66 crore in the corresponding period an year ago.
"Strong volume-driven growth across key categories, such as refrigerators, air conditioners, microwaves and water purifiers, helped the company register a steep increase in domestic sales volume," Whirlpool India vice president (corporate affairs and strategy) Shantanu Dasgupta told PTI.
Total sales, both in terms of volume and value, went up by over 50 per cent during the quarter under consideration, Dasgupta said.
For the financial year ended March 31, 2010, the company reported a total income of Rs 2,219.2 crore, a 28.6 per cent jump from Rs 1,724.9 crore in the corresponding period a year ago.
But the company refused to comment on the current fiscal, simply stating that it expects the current double-digit growth momentum to continue in the coming quarters too.
Whirlpool is also looking at expanding its footprint across the country by revamping its sales and distribution network, Dasgupta said.
"This fiscal, we have a chalked-out plan to revamp our sales network in more than 700 towns across the country," he added.