Pune based Industrial energy solutions provider Thermax Limited has recorded a drop of 10.7 per cent in its net profit at Rs 91 crore as compare to Rs 102 crore, last year. It has also witnessed drop of 9 per cent in the total income at Rs 1192 crore as compared to Rs 1304 crore last year.
Nationally and globally, investment in infrastructure, especially in the power sector, is yet to regain momentum.
Weak demand has intensified competition, company said in a statement.
Thermax has an order backlog of Rs 4412 crore against Rs 5770 crore in September 2011. The group order backlog stands at Rs 4984 crore.
During the current quarter, Thermax won a Rs 280 crore EPC order for a combined cycle extension power project from a leading Government of India enterprise in the North East region.