Loading Now

Lower margins on some orders hit Thermax Q3 profitability

Lower margins on some orders hit Thermax Q3 profitability


Energy and environment solutions company Thermax Ltd reported a 52 per cent fall in net profit in the third quarter due to the effect of an exceptional gain in the year-ago quarter and lower margins in certain orders, while revenue rose 8 per cent.

The company said lower margins on some orders in the industrial infrastructure segment and the product mix changes in the chemicals segment had a negative impact on its profitability.

Net profit came in at ₹114 crore on revenue of ₹2,508 crore. In the year-ago quarter, it had an exceptional gain of ₹126 crore from the sale of a vacant plot of land.

Its outstanding order book at the end of the December quarter was ₹11,383 crore, up 6 per cent from a year ago. It booked orders worth ₹2,296 in the quarter, up 8 per cent on year.

During the quarter, Thermax completed the acquisition of Buildtech Products India, a company manufacturing admixtures, accelerators and capsules used in tunnels, infrastructure, and railway projects. This acquisition adds to Thermax’s presence in the construction chemicals sector, it said.





Source link

Post Comment