Thermax tumbles after poor Q2 results

Thermax lost 4.84% to Rs 849.95 at 9:17 IST on BSE after net profit fell 24.63% to Rs 64.83 crore on 9.38% decline in total income to Rs 1069.62 crore in Q2 September 2015 over Q2 September 2014.

The result was announced after market hours yesterday, 27 October 2015.

Meanwhile, the S&P BSE Sensex was down 119.86 points or 0.44% at 27,133.58.

On BSE, so far 1,796 shares were traded in the counter as against average daily volume of 14,000 shares in the past two weeks.

The stock hit a high of Rs 857.65 and a low of Rs 840.65 so far during the day.

Thermax's operating revenue fell 9% to Rs 1057 crore in Q2 September 2015 over Q2 September 2014. The order inflow of the company declined 26% to Rs 810 crore in Q2 September 2015, compared with Rs 1089 crore in Q2 September 2014. This was on account of the slack in the power sector which continued to affect the order inflow position of the company and of the Group. As on 30 September 2015, Thermax has an order backlog of Rs 4006 crore against Rs 5016 crore in September 2014. Compared to last year's Rs 6067 crore, the Group order backlog stands at Rs 5162 crore, the company said.

Thermax Group provides integrated solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemical.

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