Thermax's net profit increases by 39% in the June quarter

3 Aug 2022 , 09:16 AM

Thermax Ltd. reported on Tuesday that an increase in revenue caused its consolidated net profit to increase by 39% to Rs58.95 crore for the quarter ended in June. According to a regulatory filing, the company's combined net profit during the prior fiscal year was Rs42.40 crore.

Thermax, an engineering solutions company with headquarters in Pune, has production facilities throughout Southeast Asia, China, Europe, and India.

The company's overall revenue increased in the first quarter of the current fiscal year to Rs1,675.02 crore. It was Rs1,077.75 crore during the same time frame the previous year.

During the reviewed quarter, expenses totalled Rs1,593.57 crore, up from Rs1,021.49 crore during the previous fiscal.

"Thermax saw an increase in the demand for green products from the sugar/distilleries and paper and pulp industries. For the quarter, orders were booked for Rs2,310 crore "In a different statement, it stated.

Thermax completed a significant contract for utility boilers and related equipment for a petrochemical plant in Rajasthan during the second quarter worth Rs522 crore.