Thermax net up 59pc to Rs 126 cr in Q3

NEW DELHI: Energy and environment solutions provider Thermax on Tuesday posted a 59 per cent jump in its net profit to Rs 126 crore in the December quarter mainly due to higher revenues.

''Profit after tax (PAT or net profit) stood at Rs 126 crore, up 59 per cent as compared to Rs 79 crore in the corresponding quarter of FY 2021-22,'' a company statement said.

For the third quarter of FY 2022-23, Thermax posted a consolidated operating revenue of Rs 2,049 crore in the quarter compared to Rs 1,615 crore in the same period a year ago.

The profitability was driven by good performance in all three segments - Energy, Environment and Chemical; last year's margins were affected by higher commodity and freight costs, which have now stabilised, the company said. As of December 31, 2022, Thermax Group had an order balance of Rs 9,859 crore.

The order booking for the quarter was 10 per cent lower at Rs 2,204 crore compared to Rs 2,462 crore in the same period year ago. The order book last year was higher due to an order worth Rs 830 crore for Flue gas desulphurisation (FGD) systems, it stated.

Thermax Ltd offers integrated innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals. It has manufacturing facilities in India, Europe and Southeast Asia.