Appliances maker Whirlpool of India reported a smaller-than-expected fourth-quarter profit on Monday, hurt by stiff competition and higher input costs, while demand remained steady for its cooling appliances.
Consolidated net profit rose nearly 24% to Rs 78 crore in the three months ended March 31, missing analysts' estimates of Rs 90 crore, according to LSEG data.
Revenue from operations in the Indian unit of NYSE-listed Whirlpool Corp rose nearly 4% to Rs 1,734 crore. Expenses surged 2.2%, led by a nearly 31% rise in input costs.
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