 "Thermax tanks over 10% on disappointing Q1 results")
Thermax has tanked 11% to Rs 847 on NSE after the company said its consolidated net profit more-than-halved at Rs 17 crore for the quarter ended June 30, 2014 (Q1), due to lower operational income. The company had profit of Rs 53 crore in a year ago quarter.
The company’s consolidated revenues in Q1 declined by 4% to Rs 1,010 crore against Rs 1,052 crore in the corresponding quarter last fiscal.
The company said the Group had an order balance of Rs 6,296 crore, compared to Rs 6,322 crore for in the same quarter last year.
During the quarter, the company booked orders worth Rs 662 crore, significantly lower than the corresponding figure last year of Rs 2,123 crore, which included a big order of Rs 1,350 crore from a petrochemical company.
The stock opened at Rs 941 and touched a high of Rs 964 on NSE. A combined around one million shares changing hands on the counter so far on NSE and BSE.
The company’s consolidated revenues in Q1 declined by 4% to Rs 1,010 crore against Rs 1,052 crore in the corresponding quarter last fiscal.
The company said the Group had an order balance of Rs 6,296 crore, compared to Rs 6,322 crore for in the same quarter last year.
During the quarter, the company booked orders worth Rs 662 crore, significantly lower than the corresponding figure last year of Rs 2,123 crore, which included a big order of Rs 1,350 crore from a petrochemical company.
The stock opened at Rs 941 and touched a high of Rs 964 on NSE. A combined around one million shares changing hands on the counter so far on NSE and BSE.
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