Thermax's net up 24.5 % at Rs 132 crore

Total income up 10% at Rs 1,521 cr on higher order carry forward from the previous year

Pune-based Industrial energy solutions provider Thermax Ltd has recorded increase of 24.5 per cent in its net profit at Rs 132 crore for the fourth quarter ended March 31, 2015 as compared to Rs 106 crore, last year. It has also witnessed an increase of 10 per cent in the total income at Rs 1,521 crore as compared to Rs 1,383 crore last year.

The improved performance in a subdued domestic market, where there had been no noticeable recovery in the core sectors of the economy, was on account of the higher order carry forward from the previous year, company said in a statement.

Nationally and globally, investment in infrastructure, especially in the power sector, is yet to regain momentum. Weak demand has intensified competition, company said in a statement.

The order backlog, is down at 18 per cent at Rs 4,396 crore, as compared to previous year's Rs 5,389 crore.The order backlog on a consolidated basis stood at Rs 5,671 crore, 7 per cent lower from last year's Rs 6,121 crore.

During the year, Thermax bagged two major orders worth Rs. 672 crore from a leading African industrial major for captive power projects. Its joint venture company, Thermax Babcock & Wilcox Energy Solutions (TBWES) received two orders from Babcock & Wilcox for supplying boilers for international projects. The boilers will be manufactured at the TBWES manufacturing plant at Shirwal, Maharashtra.