Thermax net up 17% y-o-y to Rs 94.33 cr

Energy and environment solutions provider Thermax Ltd a rise of 17.15 per cent in net profit to Rs 94.33 crore during the January-March quarter of the recently concluded financial year against Rs 80.52 crore posted over the same period a year ago. The company revenues during the quarter grew marginally to Rs 948.25 crore, up 2.83 per cent over Rs 922.11 crore on year-on-year (Y-o-Y) basis, the company said in a filing to the Bombay Stock Exchange (BSE).

On annual terms, Thermax Ltd posted a net profit of Rs 287.29 crore during year 2008-09, which is a rise of 2.31 per cent over the net profit of Rs 280.78 crore registered in 2007-08. The company revenues during the year increased by 1.87 per cent to Rs 3,264.35 crore against Rs 3,204.17 crore posted in the previous financial year, the company said. The reduction in cost of raw material helped the company post increased profits during the last quarter. The earnings per share however slightly fell to Rs 24.25 against Rs 25.40 over the year.

The Thermax board has recommended a 250 per cent dividend to shareholders. The company order book, after consideration of renegotiated orders, stands at Rs 3,078 crore as on March 31, 2009 compared to Rs 2,637 crore a year back. During the year, the company has received some prestigious orders for captive power plants, utility boilers, municipal sewage treatment and performance chemicals for the oil sector, a company statement said