Thermax Q1 net profit falls 16.5% to Rs 67 cr

PUNE: Energy and enivornment solutions provider company Thermax announced net profit of Rs 67cr for Q1FY13, 16.5% lower as compared to Rs 80cr for the corresponding quarter last year. Total income for the period was 5.8% lower at Rs 983cr as compared to Rs 1044cr.

Meher Pudumjee, chairperson, Thermax said that the power related business of Thermax had been hit by the tough market conditions negating the growth seen in all other areas of the business. Exports for the quarter grew up 10% to Rs 222 cr.

At the consolidated level, the group posted a net profit of Rs 52 cr, 39.53% lower as compared to Rs 86 cr last year and a total income of Rs 1170 cr, 5.64% lower as compared to Rs 1240 for the corresponding quarter last year.