Thermax reports Rs 85 cr profit for Q3

Energy and environment solutions provider Thermax on Tuesday said its consolidated net profit rose 13 per cent to Rs 85 crore during December quarter 2019-20 on reduced expenses.

The company had clocked Rs 75 crore profit in the year-ago period, Thermax said in a statement.

Total income in October-December 2019 fell to Rs 1,435 crore, from Rs 1,467 crore in the corresponding period a year ago.

Total expenses reduced to Rs 1,330 crore from Rs 1,355 crore in October-December quarter of 2018-19.

The environment segment of the company has bagged a Flue Gas Desulphurisation (FGD) order of Rs 431 crore during the quarter from a public-private joint venture for its thermal power plant in Jharkhand.

"Order booking for the quarter, at the consolidated level was at Rs 1,606 crore. As on December 31, 2019, Thermax Group had an order balance of Rs 5,439 crore," the company said.

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

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

Shares of the company ended 0.16 per cent up at Rs 1031.55 apiece on the BSE.