Thermax Q3 PAT dips 5 pc to Rs 79 cr

Mumbai: Energy solutions provider Thermax on Saturday reported a five per cent decline in consolidated net profit for the quarter ended December 31, 2021 at Rs 79 crore, impacted by higher commodity and freight costs. The company had reported a consolidated PAT of RS 83 crore in the corresponding quarter last fiscal. Its operating revenue for the October-December period stood at Rs 1,615 crore, up 14 per cent as compared to Rs 1,411 crore in the corresponding quarter, last year. “Last year, exceptional expenses of Rs 28 crore impacted the results due to the diminution of assets in subsidiaries. The current quarter margins were impacted by higher commodity and freight costs,” the company said in a statement issued here. During the quarter, the company’s order bookings was 57 per cent higher at Rs 2,462 crore as compared to Rs 1,565 crore in the corresponding quarter, last year. As on December 31, 2021, Thermax Group had an order balance of Rs 7,389 crore as compared to Rs 5,208 crore, up 42 per cent as on December 31, 2020. “During the quarter, Thermax concluded an order of Rs 830 crore from an Indian power private sector company to set up flue gas desulphurisation (FGD) systems for their three units of 660 MW capacity each in the state of Uttar Pradesh,” the company said. UNI PSK GNK

 

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