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Thermax reports increased operational revenue as order books look up

A press statement issued on Wednesday by the company read that it had an order balance of Rs 5,208 crore, down by four per cent from Rs 5,439 crore in the same quarter last fiscal.

By: Express News Service | Pune |
February 3, 2021 9:12:02 pm
Thermax, PuneThe operating revenue for the quarter stood at Rs 1,411 crore at a consolidated level as in last year's corresponding quarter. (Source: thermaxglobal.com)

THERMAX GROUP has posted an operating revenue of Rs 1,411 crore at the consolidated level for the third quarter of the current fiscal. A press statement issued on Wednesday by the company, which is headquartered in Pune, read that it had an order balance of Rs 5,208 crore, down by four per cent from Rs 5,439 crore in the same quarter last fiscal.

The operating revenue for the quarter stood at Rs 1,411 crore at a consolidated level as in last year’s corresponding quarter. “Profit after tax and exceptional items for the quarter was Rs 83 crore, as compared to Rs 85 crore in the corresponding quarter in FY2019-20. Exceptional items impacted results on account of impairment of goodwill in Thermax Netherlands BV and reversal of a part of the provision created earlier for claims arising from closure of a German subsidiary, net Rs 28 crore. Resumption of normalcy in the company’s operations, improved performance of all business segments and cost control measures have improved the profit before tax and exceptional items from Rs 105 crore to Rs 141 crore, 34% higher,” the report read.

“Order booking for the quarter was 2.6% lower at Rs 1,565 crore (Rs 1,606 crore). This includes a major EPC order from a bio-refinery in Assam for setting up a captive combined heat and power plant mentioned in the last quarter’s press release. Thermax’s order book witnessed broad-based recovery with momentum in sectors ranging from food and beverage to cement and steel,” the report read.

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