April 25, 2024 05:59 (IST)
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Subdued market conditions slow down order booking of Thermax Ltd
Mumbai, Jan 29 (IBNS): Pune-based Thermax Ltd, which offers solutions in the energy and environment sectors, reported its results for the third quarter of financial year 2015-16 on Friday, where it said that a delay in the core sector revival has lowered its profit after tax (PAT) by 11% to Rs 68 crore compared to the same quarter in the financial year 2014-15, when it had reported a PAT of Rs 76 crore.
Profit before tax for the reported quarter was Rs 96 crore compared to Rs 121 crore posted in the year-ago quarter.
For the third quarter in the current financial year, the company posted an operating revenue of Rs 1,039 crore, down 8% from the same quarter in the previous financial year.
Operating revenue for the nine-month period (April-December) at Rs 3,070 crore (Rs 3.099 crore last year) was down by 1%.
Year-to-date, the company posted a profit before tax of Rs 284 crore (Rs 305 crore last year), and a profit after tax of Rs 194 crore (Rs 204 crore last year).
Order intake for the reported quarter was Rs 868 crore against Rs 1,228 crore for the same quarter in 2014-15. Subdued market conditions has slowed down order bookings, the company said in its press release.
The order backlog of the group is at Rs 4,767 crore, lower by 23% compared to Rs 6,218 crore last year,
On a consolidated basis, Thermax Group’s total operating revenue for the nine months stood at Rs 3,882 crore (Rs 3,608 crore last year).
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