New Delhi, Feb 4 (PTI) – Energy and environment solutions provider Thermax posted a 52% drop in its consolidated net profit for the December quarter, registering Rs 114 crore compared to Rs 237 crore in the same period last year. The previous year's profit had been bolstered by an exceptional gain of Rs 126 crore from the sale of a vacant land plot.
In a statement, the company attributed the decline in profits to lower margins in certain orders within the Industrial Infra segment and changes in the product mix in the Chemicals segment.
Despite the dip in net profit, Thermax reported an 8% increase in consolidated operating revenue, which stood at Rs 2,508 crore for Q3 of the 2024-25 financial year, compared to Rs 2,324 crore in the same quarter of the previous fiscal.
As of December 31, 2024, Thermax’s order book stood at Rs 11,383 crore, marking a 6% rise from the corresponding period last year. However, order bookings for the quarter declined by 8%, falling to Rs 2,296 crore from Rs 2,506 crore in the same quarter of the previous fiscal year.
During the quarter, Thermax also completed the acquisition of 100% equity in Buildtech Products India Pvt. Ltd, a company specializing in admixtures, accelerators, and capsules used in tunnels, infrastructure, and railway projects. This acquisition strengthens Thermax’s footprint in the construction chemicals sector.
Despite the decline in net profit, the company's revenue growth and strategic acquisition underscore its ongoing expansion efforts in key industrial sectors.
In a statement, the company attributed the decline in profits to lower margins in certain orders within the Industrial Infra segment and changes in the product mix in the Chemicals segment.
Despite the dip in net profit, Thermax reported an 8% increase in consolidated operating revenue, which stood at Rs 2,508 crore for Q3 of the 2024-25 financial year, compared to Rs 2,324 crore in the same quarter of the previous fiscal.
Corporate Guarantee for Subsidiary and Order Book Growth
The company’s board approved financial support through a Corporate Guarantee or Letter of Comfort of up to Rs 400 crore for First Energy Private Limited (FEPL), a wholly owned subsidiary of Thermax.As of December 31, 2024, Thermax’s order book stood at Rs 11,383 crore, marking a 6% rise from the corresponding period last year. However, order bookings for the quarter declined by 8%, falling to Rs 2,296 crore from Rs 2,506 crore in the same quarter of the previous fiscal year.
Standalone Performance and Strategic Acquisition
On a standalone basis, Thermax recorded an operating revenue of Rs 1,453 crore, down 2% from Rs 1,480 crore in the year-ago quarter. The standalone profit after tax fell by 49% to Rs 103 crore.During the quarter, Thermax also completed the acquisition of 100% equity in Buildtech Products India Pvt. Ltd, a company specializing in admixtures, accelerators, and capsules used in tunnels, infrastructure, and railway projects. This acquisition strengthens Thermax’s footprint in the construction chemicals sector.
Despite the decline in net profit, the company's revenue growth and strategic acquisition underscore its ongoing expansion efforts in key industrial sectors.
