The company had posted a net profit of Rs 28.38 crore for the same period previous fiscal. Net sales of the company fell to Rs 586.48 crore for the quarter under review from Rs 611.17 crore for the same period in 2012, due to contraction in consumer demand, Whirlpool said in a statement.

"Quarter 2 was adversely impacted by currency and a soft demand. However, with the onset of the festival season and stabilization of the rupee, we are starting to see a strong recovery in the durables business," Whirlpool of India chairman and managing director and President South Asia and Asia Pacific, Whirlpool Corporation Arvind Uppal said.

On the future outlook, he said that company's focus on cost and innovation should start to yield results from the coming Quarter. "The company continues to invest behind the brand and innovation and is now focused on executing its festival plans that includes the launch of new products in Refrigerators, Washing Machines and Microwaves," the company said.

In the first half of the fiscal, company's net profit declined 28.84 percent to Rs 66.13 crore as against Rs 92.94 crore in the year-ago period. Net sales in H1 also declined to Rs 1,442.37 crore as against Rs 1,483.30 crore in the same period in 2012. Shares of the company closed at Rs 179.20 per scrip on BSE, up 0.36 percent from its previous close.


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