Thermax net profit up 185% in Q2FY15

PUNE: Energy and environment solutions provider Thermax posted a net profit of Rs 86cr for the second quarter of FY 2014-15, up 185% from a net profit of Rs 30 cr for the corresponding quarter last year. Operating revenue for the quarter was up 14% at Rs 1191 cr as compared to Rs 1043 cr in the corresponding quarter last year.

The company also saw a 42% growth in order inflow at Rs 1089 cr which has been aided by the improvement in demand for its standard products in the domestic market and project orders from the international market.

The quarter saw the joint venture company, Thermax Babcock & Wilcox Energy Solutions receive a Rs 339 cr export order from B&W PGG for detailed engineering, manufacturing and supply of selective items for two boilers for an international project. The boilers will be manufactured at the JV’s manufacturing facility at Shirwal, Maharashtra.

As on September 30, 2014, Thermax has an order backlog of Rs 5016cr against Rs 5308 cr in September 2013. Compared to last year’s Rs 6128cr the group order backlog stands at Rs6067cr.