Thermax Q2 net up 24% to Rs 109 cr, revenue surges 41% to Rs 2,075 cr

Thermax on Friday reported a 24 per cent rise in its consolidated net profit to Rs 109 crore for the September 2022 quarter, mainly due to higher revenues.

"Profit after tax (PAT) stood at Rs 109 crore, up 24 per cent as compared to Rs 88 crore in the corresponding quarter of FY 2021-22," a company statement said.

For the second quarter of FY2022-23, Thermax posted a consolidated operating revenue surged 41 per cent to Rs 2,075 crore against Rs 1,469 crore in the year-ago period, up 41 per cent, it stated.

As of September 30, 2022, Thermax Group had an order balance increased by 46 per cent to Rs 9,485 crore against Rs 6,516 crore a year ago.

Order booking in the quarter grew 9 per cent to Rs 2,015 crore compared to Rs 1,856 crore.

On a standalone basis, Thermax posted operating revenue of Rs 1,373 crore during the quarter, 36 per cent higher compared to Rs 1,007 crore in the corresponding quarter of the last year.

Profit after tax for the quarter rose 55 per cent to Rs 93 crore from Rs 60 crore a year earlier.

Standalone order booking for the quarter was six per cent lower at Rs 1,132 crore against Rs 1,204 crore a year ago.

Order balance on September 30, 2022, surged 77 per cent to Rs 6,736 crore from Rs 3,798 crore.

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.