Thermax Q4 net up 67 pc to Rs 126.9 cr

Thermax Ltd Wednesday posted a 67 per cent on year jump in its consolidated net profit at Rs 126.90 crore for the quarter ended March 2019, mainly on account of higher revenues.

The company's consolidated net profit was at Rs 75.69 crore for the quarter ended on March 31, 2018, it said in a BSE filing.

Total income rose to Rs 2,125.62 crore in the March quarter from Rs 1,187.96 crore in the year-ago period.

The company's consolidated net profit for 2018-19 rose to Rs 325.43 crore from Rs 231.16 crore in 2017-18. Total income in the last fiscal also rose to Rs 6,123.05 crore from Rs 4,602.03 crore.

The company's board has recommend a dividend of Rs 7 (350 per cent) per equity share of Rs 2 each for 2018-19, subject to approval of shareholders at the ensuing 38th Annual General Meeting.

Thermax also said its Group Chief Financial Officer and Key Managerial Person Amitabha Mukhopadhyay has resigned from the company and his resignation accepted with effect from May 31, 2019.

It said Rajendran Arunachalam has been appointed as the Group Chief Financial Officer and Key Managerial Person from June 1.

Thermax provides energy and environment solutions in the 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.