Thermax Sees Profit Surge Despite Revenue Dip: A Resilient Performance
Thermax reported a significant rise in net profit for the June quarter, fueled by decreased expenses. While revenue slightly dipped due to execution challenges, the company’s order book saw growth. With a robust commitment to clean solutions, Thermax continues to lead in energy and environment sectors.
- Country:
- India
Thermax has recorded a notable increase of nearly 39% in its consolidated net profit for the June quarter, rising to Rs 151 crore, up from Rs 109 crore the previous year. This performance is largely attributed to a reduction in expenses, the company reported on Thursday.
Despite a minor 2% decline in consolidated operating revenue, down to Rs 2,150 crore from last year's Rs 2,184 crore, the decrease stems partially from challenges like delayed customer clearance. However, the company's fiscal health remains strong due to strategic financial management, including an accrual of Rs 56 crore under the Packaged Incentive Scheme.
Thermax's order book also reflects positive momentum, with a 7% rise in order balance and a 20% increase in order booking for the quarter. As a leader in sustainable energy solutions, Thermax continues to be a pivotal player in the global energy transition landscape.
(With inputs from agencies.)
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