Thermax Q3 net profit rises by 13%

For the third quarter of FY 2019-20, Thermax posted consolidated operating revenue of Rs. 1,410 crore, down 2% as compared to Rs. 1,437 crore in the corresponding quarter, last year. Profit after tax (PAT) stood at Rs. 85 crore as compared to Rs. 75 crore (includes the company’s share of profit/loss in joint venture) in Q3, last year.

The Environment segment of the company has bagged a second large Flue Gas Desulphurisation (FGD) order of Rs. 431 crores during the quarter from a public-private joint venture power company for its thermal power plant in Jharkhand. Order booking for the quarter, at the consolidated level, was at Rs. 1,606 crore (Rs. 1,480 crore), up 8.5%. As on December 31, 2019, Thermax Group had an order balance of Rs. 5,439 crore ( Rs. 6,475 crore), down 16%.

On a standalone basis, from continuing operations, Thermax posted operating revenue of Rs. 850 crore for the quarter, compared to Rs. 847 crore in the corresponding quarter of the previous year. PAT for the quarter was 58 crore as compared to last year’s Rs. 26 crore.

About Thermax Limited: Thermax Limited, a leading energy and environment solutions provider is one of the few companies in the world that offers integrated innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals. Thermax has manufacturing facilities in India, Europe and South East Asia. The sustainable solutions Thermax develops for client companies are environment-friendly and enable efficient deployment of energy and water resources.