Thermax March-quarter net jumps nearly three-fold to Rs 107 crore

Energy solutions firm Thermax said its consolidated net profit jumped nearly three-fold to Rs 107.35 crore for the March quarter, mainly on the back of higher revenues.

The consolidated net profit of the company was Rs 39.03 crore in the quarter ended March 31, 2020, it said in a BSE filing.

Total income rose to Rs 1,610.34 crore in the quarter from Rs 1,353.66 crore earlier.

For the full fiscal 2020-21, consolidated net profit came in at Rs 206.58 crore as against Rs 212.45 crore in the previous financial year.

Total income was Rs 4,898.99 crore, compared to Rs 5,831.31 crore in 2019-20.

Meanwhile, the company said its board has recommended a dividend of Rs 7 per equity share of Rs 2 each for 2020-21, subject to approval of shareholders at the ensuing 40th Annual General Meeting.

Record date for the payment of dividend will be communicated separately, it added.

Thermax Limited, a leading energy and environment solutions provider, offers integrated 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 Southeast Asia.