Thermax net profit dips about 52pc to Rs 114 cr in Q3

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New Delhi, Feb 4 (PTI) Energy and environment solutions provider Thermax on Tuesday reported a 52 per cent decline in its consolidated net profit to Rs 114 crore in the December quarter compared to a year ago.

The company had reported a consolidated profit after tax of Rs 237 crore in the October-December quarter of 2023-24, boosted by an exceptional gain of Rs 126 crore from the sale of a vacant plot of land, a statement said.

The company also explained that the current (December) quarter’s results are affected by lower margins in certain orders within the Industrial Infra segment and the impact of product mix changes in the Chemicals segment.

The company recorded a consolidated operating revenue of Rs 2,508 crore in the third quarter of 2024-25, an 8 per cent increase compared to Rs 2,324 crore in the corresponding quarter of the previous fiscal year.

The Board has approved support by way of Corporate Guarantee / Letter of Comfort to First Energy Private Limited (FEPL), a wholly owned subsidiary of the Company for its borrowings up to Rs 400 crore, the company said.

As of December 31, 2024, the order balance for the quarter was Rs 11,383 crore, up 6 per cent from the corresponding quarter of the previous year.

The order booking for the quarter was Rs 2,296 crore, an 8 per cent decrease compared to Rs 2,506 crore in the same quarter of the previous fiscal year.

On a standalone basis, Thermax posted operating revenue of Rs 1,453 crore during the quarter, down by 2 per cent as compared to Rs 1,480 crore in the corresponding quarter last year. The profit after tax for the quarter stood at Rs 103 crore, down 49 per cent.

During the quarter, Thermax completed the acquisition of 100 per cent of the equity share capital of Buildtech Products India Pvt. Ltd, a company manufacturing admixtures, accelerators and capsules used in tunnels, infrastructure and railway projects. This acquisition adds to Thermax’s presence in the construction chemicals sector. PTI KKS KKS MR SHW