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Business EconomyPosted at: Aug 1 2024 5:02PM


Thermax net up 82 pc at Rs 109 cr in Q1

New Delhi, Aug 1 (UNI) Thermax ltd, an Indian multinational engineering conglomerate in energy and environment space, on Thursday said that its consolidated net profit has jumped 82 per cent year-on-year basis at Rs 109 crore in Q1 (April-June) of FY25 compared to Rs 60 crore in same quarter of 2023-24 fiscal.
The company recorded a consolidated operating revenue of Rs 2,184 crore in the first quarter of FY 2024-25, a 13 per cent increase as compared to Rs 1,933 crore in the corresponding quarter of the previous fiscal year, Thermax said in a statement.
Last year’s profit was adversely impacted due to an exceptional charge related to litigation of Rs 51 crore.
Thermax is a listed company and its shares were 2.14 per cent up in today’s trade and last quoted price was Rs 5,180.20 a share.
As of June 30, 2024, the order balance for the quarter was Rs 10,681 crore, up 2 per cent from the corresponding quarter of the previous year. The order booking for the quarter stood at Rs 2,569 crore.
During the quarter, Thermax unveiled a manufacturing factory in Pune for water and wastewater solutions. This is a significant move to serve its customers better by delivering superior engineered products to meet the growing demand for water.
Additionally, the Company acquired a 51 per cent stake in TSA Process Equipments, enhancing its ability to offer end-to-end solutions for highly purified water, ultra-pure water, and water for injectables across fast-growing industries.
With a focus on advancing the Chemicals business, the Company recently announced the incorporation of a new wholly-owned subsidiary, Thermax Chemical Solutions Private Limited (TCSPL).
TCSPL entered into a shareholders agreement with Vebro Polymers Holdings Ltd., forming Thermax Vebro Polymers India Pvt. Ltd. The partnership based on a 50.1 per cent TCSPL and 49.9 per cent Vebro Polymers ownership aims to meet the demands of the growing industrial and commercial flooring market and contribute to India’s developing infrastructure landscape, the company statement added.
Thermax operates 14 manufacturing facilities across India, Europe, and Southeast Asia and has 42 Indian and international subsidiaries.
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Tags: #Thermax net up 82 pc at Rs 109 cr in Q1
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