The Hindu Business Line : Thermax Q2 net up at Rs 13.97 cr

THERMAX Ltd, a leading player in energy and environment management, on Friday announced sharply improved results for the second quarter ended September 2003. It has posted a net profit of Rs 13.97 crore compared with Rs 6.60 crore in the same quarter last year.

Sales in were only marginally higher at Rs 147 crore (Rs 143 crore). Exports were at Rs 31.84 crore, an increase of 29 per cent compared to the last year period.

The six-month results show a 127 per cent jump in net profit of Rs 21.12 crore, over Rs 9.30 crore in the same period last year. This is after taking a Rs 2.90 crore charge on profits consequent upon clarification of Accounting Standard 26, the company said in a press release.

The company's other income was Rs 22.9\04 crore compared to Rs 11.03 crore in the six months of the previous year. Of this, Rs 6.31 crore was from operations (Rs 6.47 crore), earnings per share for the six months has increased from Rs 3.90 to Rs 8.83, an increase of 127 per cent.

The orders in hand of the company as at end September 2003 was 29 per cent higher at Rs 268.75 crore compared to Rs 208.63 crore last year.

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Thermax Q2 net up at Rs 13.97 cr