Thermax Q1 net up 28 pc at Rs 62.76 cr

Thermax Ltd on Thursday posted a 28 per cent rise in consolidated net profit at Rs 62.76 crore in June quarter, mainly on the back of higher revenues.

The company had reported a consolidated net profit of Rs 48.97 crore in April-June quarter last year, it said in a BSE filing.

Total income rose to Rs 1,414.01 crore in June quarter from Rs 1,066.28 crore a year ago.

As on June 30, 2019, Thermax Group had an order balance of Rs 5,250 crore compared to Rs 6,420 crore a year ago, down 18 per cent.

Order booking for the quarter was 26 per cent lower at Rs 1,217 from Rs 1,652 crore a year ago on account of slowdown in investment sentiment in both domestic and international markets, it said.

In July, Thermax concluded an order of Rs 471 crore from an Indian government power company to set up two flue gas desulphurisation (FGD) systems at their thermal power plant in Jharkhand.

Thermax is a energy and environment solutions provider and is one of the few companies in the world that offers integrated innovative solutions in areas of heating, cooling, power, water and waste management, air pollution control and chemicals.

It has manufacturing facilities in India, China, Europe and South East Asia.