Thermax posts 12% decline in net sales for Q1FY14

Energy and environment solutions provider Thermax on Thursday reported a 12.54% decline in net sales for the quarter ended 30th June 2013, from Rs 973.04 crore last year to Rs 851.01 crore. Profit after tax was similarly down 25% at Rs 50.3 crore.

At the group level, revenue was Rs 1051.7 crore, 10 % lower compared to Rs 1,170.2 crore for the corresponding period last year and profit after tax marginally higher at Rs 52.9 crore as compared to Rs 52.2 crore last year.

The company registered an order booking of Rs 2123 cr in the first quarter or the year, up 68% as compared to Rs 1225 crore in the corresponding quarter last year. Order balance for the same period improved by 24% to Rs 5530 crore.

During the quarter, the company bagged a Rs 1700 crore order from a petrochemical company to design, manufacture and commission 9 high pressure boilers within a time frame of 25-29 months.