Thermax Q1 net profit drops 18% at Rs 40 cr

Thermax Ltd today reported an 18 per cent dip in consolidated net profit at Rs 40 crore in the first quarter ended June as compared to year-ago period due to lower income.
The company's consolidated net profit for April-June quarter of last fiscal was Rs 48.96 crore, Thermax Ltd said in a BSE filing.
According to statement, the company's total income was Rs 916.62 crore in the quarter under review, down from Rs 1,025.19 crore in the April-June quarter of last fiscal.
It said that as on June 30, 2017, Thermax Group had an order balance of Rs 4,944 crore as against Rs 4,040 crore in the year-ago period, up 22.4 per cent.

The order booking for the quarter, at the consolidated level, was Rs 1,919 crore, up 134.9 per cent, as compared to Rs 817 crore last year. These figures do not include those of the joint venture companies.
The reduction in revenues is because of the lower order carry forward at the start of 2017-18. The improved order balance position is on account of a single large order booked during the quarter from an African business conglomerate.
Thermax continues to grapple with the challenges in the core sectors of the domestic economy and the sluggish growth in the overseas markets in which the group operates, it added.

Thermax Ltd, an 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.