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Informist, Thursday, Jul. 31, 2025

--Thermax Apr-Jun consol net profit INR 1.52 bln

--Analysts saw Thermax Apr-Jun consol net profit INR 1.40 bln

--Thermax Apr-Jun consol net profit INR 1.52 bln vs INR 1.16 bln year ago

--Thermax Apr-Jun consol revenue INR 21.50 bln vs INR 21.84 bln year ago

MUMBAI – Thermax Ltd. reported a sharp rise in its net profit for the June quarter despite a fall in revenue as expenses fell even more. Thermax reported a consolidated net profit of INR 1.52 billion for the June quarter, up 32% on year, slightly higher than the analyst's expectation of INR 1.40 billion.

The engineering company's revenue for the quarter declined 2% on year to INR 21.50 billion. Analysts had estimated Thermax's revenue for the quarter at INR 24.40 billion. Sequentially, the company's net profit fell 26% and revenue declined 30%. The company said the profit includes INR 560 million receivable from the Maharashtra state government on account of its package incentive scheme.

The other income of the company fell 22% on year to INR 656 million. The company reported a net profit margin of 7%, up from 5% a year ago. The total expenses of the company declined 5% on year to INR 20.04 billion in the reporting quarter, dragged down by an 11% fall in raw material costs to INR 10.22 billion. Employee benefit expenses rose 13% in the June quarter to INR 3.29 billion from INR 2.91 billion a year ago. Other expenses rose slightly to INR 5.35 billion.

The order book of the company rose to INR 27.48 billion, driven by large orders in the industrial infrastructure segment and improved bookings in its green solutions segment. The company said it missed the order book targets for its products and chemical segments. The company's total order balance rose 7% to INR 113.76 billion, primarily due to a 20% jump in the order balance for its industrial products segment.

The company's depreciation, amortisation and impairment expense costs rose 36% on year to INR 489 million. Thursday, shares of Thermax closed at INR 3,940.40, up 2.7% on the National Stock Exchange. The company announced the results after market hours.  End

Reported by Eshitva Prakash

Edited by Saji George Titus

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