Thermax Q1 Results: Net profit rises to Rs 60 crore in June quarter

Thermax on Tuesday posted a marginal rise in its consolidated net profit at Rs 60 crore in the June 2023 quarter.

Its consolidated net profit stood at Rs 59 crore in the year-ago period.

"The company's consolidated profit after tax (PAT) is Rs 60 crore (Rs 59 crore in April-June 2022), an increase of 2 per cent over Q1 FY23," a company statement said.

The company explained that the results were adversely impacted due to an exceptional item of provision related to ongoing litigation of Rs 51 crore.

Its profit before tax (PBT) and exceptional increased 75 per cent to Rs 142 crore from Rs 81 crore in April-June 2022, it stated.

Thermax, an energy and environment solutions company, recorded a consolidated operating revenue of Rs 1,933 crore in the first quarter of 2023-24, 17 per cent higher compared to Rs 1,654 crore in the year-ago period.

As of June 30, 2023, the order balance for the quarter was Rs 10,505 crore, up by 10 per cent from Rs 9,554 crore a year ago.

The order booking for the quarter was 11 per cent higher at Rs 2,567 crore against Rs 2,310 crore in the year-ago period.