Thermax dips on weak Q4 earnings

Net profit for the fourth quarter ended March 2014 declined 9% to Rs 106 crore

Shares of Thermax were down over 2% at Rs 889 after the company reported nearly 9% decline in net profit for the quarter ended March 31, 2014.

The Company has posted a net profit of Rs. 106 crore for the quarter ended March 31, 2014 as compared to Rs. 115.3 crore for the quarter ended March 31, 2013. Total Income has decreased from Rs. 1493 crore for the quarter ended March 31, 2013 to Rs. 1418 crore for the quarter ended March 31, 2014.

For the year ended March 31, 2014, the Company has posted a net profit of Rs. 252.97 crore for the year ended March 31, 2014 as compared to Rs. 349.96 crore for the year ended March 31, 2013. Total Income has decreased from Rs. 4763.9 crore for the year ended March 31, 2013 to Rs. 4366.46 crore for the year ended March 31, 2014.

The board has recommended a dividend of Rs 6/- per equity share of face value Rs 2/- each.

The stock opened at Rs 900 and touched a high of Rs 900.65 and a low of Rs 888 on the BSE. Over 5,000 shares were traded on both the stock exchanges so far.