Thermax's net profit tumbles 4.4% to Rs 103.2 cr in March quarter

Thermax on Friday reported a 4.4 per cent decline in consolidated net profit at Rs 102.54 crore for the quarter ended March.

The company had reported a consolidated net profit of Rs 107.35 crore in the year-ago period, according to a BSE filing.

Total income of the company in the March quarter was at Rs 2,027.62 crore as against Rs 1,610.34 crore in the same period a year ago.

"Profit After Tax (PAT) stood at Rs 103 crore, down 4 per cent as compared to Rs 107 crore in the corresponding quarter of FY21. Profitability was lower due to increased commodity and freight costs during the quarter," the company said in a statement.

The consolidated net profit of the company rose to Rs 312.31 crore in the fiscal year 2021-22 from Rs 206.58 crore in 2020-21.

Total income in the fiscal was at Rs 6,255.34 crore as against Rs 4,898.99 crore in 2020-21.

The company's board has recommend a dividend of Rs 9 per equity share of Rs 2 each (450 per cent) for the financial year 2021-22.

Thermax Group had an order balance of Rs 8,812 crore at the end of last fiscal.

Thermax Limited is a leading energy and environment solutions provider.