Thermax net falls 4% to Rs 103 crore

Thermax net falls 4% to Rs 103 crore

20 May    Finance News

Energy and environment solutions provider, Thermax Group on Friday reported a 4% year-on-year drop in consolidated net profit to Rs 103 crore for the March quarter.

The company’s consolidated revenues were up 26% y-o-y to Rs 1,992 crore. The company attributed lower profitability to increased commodity and freight costs during the quarter. Thermax reported a 127% jump in order booking for the quarter to Rs 3,396 crore.On a standalone basis, Thermax reported a 37% y-o-y decline in net profit to Rs 71 crore and an 18% rise in operating revenue to Rs 1,281crore.

Order booking for the quarter was 206% higher at Rs 2,927 crore. For FY22, Thermax Group saw consolidated profit go up 51% to Rs 312 crore and a revenue increase by 28% to Rs 6,128 crore with order booking of Rs 9,410 crore for the year at a consolidated level.

The Thermax board recommended a dividend of Rs 9 per share for 2021-22.

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