Thermax lost 0.25% to Rs 588.90 at 13:03 IST on BSE after consolidated net profit rose 0.76% to Rs 52.90 crore on 10.12% decline in revenue to Rs 1051.70 crore in Q1 June 2013 over Q1 June 2012.
The Q1 result was announced during market hours today, 25 July 2013.
Meanwhile, the S&P BSE Sensex was down 129.75 points or 0.65% at 19,960.93.
On BSE, 21,895 shares were traded in the counter as against average daily volume of 9,298 shares in the past one quarter.
The stock was volatile. The stock lost as much as 4.57% at the day's low of Rs 563.35 so far during the day. The stock rose as much as 1.63% at the day's high of Rs 600 so far during the day. The stock had hit a 52-week high of Rs 684 on 22 February 2013. The stock had hit a 52-week low of Rs 463.15 on 27 July 2012.
The stock had underperformed the market over the past one month till 24 July 2013, falling 0.05% compared with the Sensex's 8.36% jump. The scrip had also underperformed the market in the past one quarter, rising 2.39% as against Sensex's 4.75% rise.
The mid-cap company has equity capital of Rs 23.83 crore. Face value per share is Rs 2.
Thermax's consolidated order balance rose 25.41% to Rs 6322 crore as on 30 June 2013, from Rs 5041 crore a year ago.
On standalone basis, Thermax's net profit fell 25% to Rs 50.30 crore on 12% decline in operating revenue to Rs 862.80 crore in Q1 June 2013 over Q1 June 2012. During Q1 June 2013, Thermax registered an order booking of Rs 2123 crore, up 68% as compared to Rs 1258 crore in the corresponding period last year. The company continued to improve its order balance which stood at Rs 5530 crore as on 30 June 2013, up 24% from Rs 4474 crore a year ago.
During the quarter, Thermax bagged a prestigious order worth Rs 1700 crore from a leading petrochemical company for the design, manufacturing and commissioning of 9 CFBC (circulating fluidised bed combustion) high pressure boilers at two of its plants. The boilers meant for generating steam and power will be commissioned at the customer sites within a timeframe of 25 to 29 months.
Thermax said that Mr. Gopal Mahadevan, Chief Financial Officer (CFO) of the company has tendered his resignation from the services of the company. His resignation would be effective from the close of business hours of 26 July 2013, the company said.
Thermax, a leading 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.
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