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Whirlpool share price closes higher despite 91% fall in Q1 net profit

Share price of Whirlpool opened with a gain of 2.34% at Rs 2,138 against previous close of Rs 2,089.15 on BSE

twitter-logoBusinessToday.In | August 6, 2020 | Updated 18:19 IST
Whirlpool share price closes higher despite 91% fall in Q1 net profit
Share price of Whirlpool opened with a gain of 2.34% at Rs 2,138 against previous close of Rs 2,089.15 on BSE

Whirlpool of India share price closed higher today despite the firm posting 91% fall in net profit for quarter ended June 2020. Share price of Whirlpool opened with a gain of 2.34% at Rs 2,138 against previous close of Rs 2,089.15 on BSE.

Whirlpool share stands higher than 100 day moving averages but lower than 5 day, 20 day, 50 day and 200 day moving averages.  The share has gained 36% during last one year but fallen 11.63% since the beginning of this year.

Total 3,925 shares changed hands amounting to turnover of Rs 82.61 crore on BSE. Later, the stock closed 0.48% higher at Rs 2,099.20.

Market cap of the firm stood at Rs 26,632 crore.

Net profit fell to Rs 16.47 crore in Q1 of current fiscal against Rs 190 crore profit on an year on year basis.

In Q1, net sales fell to Rs 1027 crore against sales of Rs 1974.20 crore in the corresponding period of previous fiscal.

Operating profit declined 84.58% to  Rs 46.64 crore in Q1 against Rs 302.45 crore in comparable period of 2019-20.  Earnings per share fell to Rs 1.24 in last quarter against Rs 15.19 on an year on year basis.

Meanwhile, Sensex and Nifty gained today, backed by index heavyweights HDFC twins, positive bullish global equities and healthy Q1 earning performance. Reversing trend from yesterday's muted session, the 30-share BSE benchmark Sensex ended 362 points higher at 38,025 and broader NSE Nifty advanced 98 points to 11,200.

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