 "Thermax consolidated net profit down 5% to Rs 79 crore in Dec quarter")
Energy and environment solutions provider Thermax on Friday reported 5 per cent dip in consolidated net profit at Rs 79 crore for December quarter 2021-22.
In the year-ago period, the profit stood at Rs 83 crore, a company statement said.
Operating revenue was Rs 1,615 crore in the quarter as compared to Rs 1,411 crore in the year-ago period.
It said that last year, exceptional expenses of Rs 28 crore impacted the results due to the diminution of assets in subsidiaries.
The quarter margins were impacted by higher commodity and freight costs, it explained.
As on December 31, 2021, order booking for the quarter was 57 per cent higher at Rs 2,462 crore as against Rs 1,565 crore in the corresponding period last year.
Order balance was Rs 7,389 crore as against Rs 5,208 crore earlier.
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In the quarter, Thermax bagged 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 Uttar Pradesh.
On standalone basis, Thermax posted an operating revenue of Rs 1,017 crore during the quarter, 13 per cent higher as compared to the corresponding period last year.
Profit after tax in the quarter was Rs 39 crore. In the year-ago period, it had a loss of Rs 3 crore.
In the current year, exceptional expenses of Rs 14 crore (Rs 90 crore last year) impacted the standalone results due to the diminution of assets in subsidiaries.
Order booking for the quarter was at Rs 1,893 crore as against Rs 1,020 crore in the year-ago period.
Order balance as on December 31, 2021, stood at Rs 4,645 crore, up 28 per cent year-on-year.
Total income of the company rose to Rs 1,643.90 crore in the quarter from Rs 1,438.82 crore in the same period a year ago.
Thermax Ltd, an energy and environment solutions provider, is one of the few companies in the world that offers integrated innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals. It has manufacturing facilities in India, Europe and Southeast Asia.