Thermax profit down 40 pc to Rs 119 cr in Q2

New Delhi, Nov 11 (PTI) Energy and environment solutions provider Thermax on Tuesday reported a 40 per cent decline in consolidated net profit to Rs 119 crore in the September quarter due to lower revenues.

"The company's consolidated profit after tax (PAT) is Rs 119 crore (Rs 198 crore in Q2 FY25), a decrease of 40 per cent," the company said in a statement.

According to the statement, the company recorded a consolidated operating revenue of Rs 2,474 crore during the quarter, a 5 per cent decrease as compared to Rs 2,616 crore in the corresponding quarter of the previous fiscal year.

It said the revenue and profit for the corresponding quarter of the previous year were positively impacted by an accrual of Rs 66 crore recognised as income towards incentives receivable under the Packaged Incentive Scheme (PSI), 2007, from the Government of Maharashtra.

The lower profit for the quarter is due to project cost overruns in the industrial infra segment, including Rs 42 crore of additional cost provisions, mainly for one project, it stated.

As of September 30, 2025, the order balance for the quarter was Rs 12,300 crore (Rs 11,593 crore year ago), up 6 per cent.

The order booking for the quarter stood at Rs. 3,551 crore (Rs. 3,353 crore), up by 6 per cent.

On a standalone basis, Thermax Ltd posted an operating revenue of Rs 1,505 crore during the quarter, 1 per cent lower than Rs 1,523 crore in the corresponding quarter last year.

Thermax operates 16 manufacturing facilities across India, Europe, and Southeast Asia and has 49 Indian and international subsidiaries. PTI KKS TRB