Thermax Q1 net profit down 17.7%

PUNE: Thermax posted an operating revenue of Rs 839.4 crore for the quarter ended 30thJune '14, lower by 2.7% compared to Rs 862.8 crore for the corresponding quarter last year. Profit after tax for the quarter stood at Rs 41.4 crore, 17.7% lower than the corresponding quarter's Rs 50.3 crore.

The company's order balance on June 30, 2014 stood at Rs 5206 crore, down 5.9% from Rs 5530 crore for the corresponding quarter last year. During the quarter, the company booked orders worth Rs 662 crore, significantly lower than the corresponding figure for last year, Rs 2123 crore, which included a big order of Rs 1350 crore from a petrochemical company.

At the Group level, Thermax reported Q1 revenues of Rs 1010.1 crore as compared to Rs 1051.7 crore and a net profit of Rs 17.3 crore as against Rs 52.9 crore last year. MS Unnikrishnan, MD & CEO, Thermax said that the losses in the international operations were primarily on account of a Rs 30 crore loss at Thermax, Babcock & Wilcox Energy Solutions, a joint venture company.