The Hindu Business Line : Thermax Q3 net profit rises 88%

Pune, Feb. 1 Thermax Ltd has announced net profit at Rs 55.5 crore for the quarter ended December 2006, up 88.2 per cent from Rs 29.5 crore in the corresponding quarter last year. The nine-month profit at Rs 118.1 crore was 45.3 per cent higher YoY.

Sales during the quarter under review were Rs 544 crore (Rs 356.6 crore).

Exports increased marginally to Rs 89.3 crore (Rs 86.8 crore).

Order booking of the Thermax group for the nine months ended December 2006 increased over 94 per cent to Rs 3,024 crore (Rs 1,559 crore).

The company expects to end the financial year with a 35 per cent top line growth over the previous fiscal.

Unnikrishnan new MD

The Thermax board, which met in Mumbai on Thursday, approved the appointment of Mr M. S. Unnikrishnan as Managing Director of Thermax Ltd, effective July 1, 2007. Currently the Executive Vice-President, he has been with Thermax for the past 15 years.

As per the company's retirement policy, Mr Prakash Kulkarni, the current Managing Director, retires at the end of June this year.

He took over as MD in July 2000 and has led the turnaround and growth of Thermax over the past six years, a company statement said.