Financial Daily from THE HINDU group of publications
Tuesday, Feb 01, 2005
Financial Daily from THE HINDU group of publications Tuesday, Feb 01, 2005 |
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Corporate Results
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Engineering Thermax Q3 net rises 31 pc Our Bureau
Pune , Jan. 31 THERMAX Ltd, a player in energy and environment solutions, has announced improved results for the third quarter ended December 2004. It has recorded a net profit of Rs 12.6 crore, compared to Rs 9.6 crore in the corresponding quarter last year. Sales stood at Rs 237 crore (Rs 132 crore). Revenues from exports have increased 125 per cent to Rs 46.2 crore (Rs 20.5 crore). The results were taken on record at the board meeting today. According to an official communication, the results for the nine-month period ended December 2004 showed an increase in sales by 67 per cent to Rs 579 crore. However, net profit marginally declined to Rs 29.1 crore from 30.6 crore, due to fall in other income from Rs 21.2 crore to Rs 7.97 crore. During the quarter under review, while demand was buoyant, cost of input materials and components continued to escalate, putting margins under pressure. The company said that better cost management and aggressive team effort helped increase operating profit from Rs 10.2 crore to Rs 18.2 crore. It added that compared to the same quarter last year, order intake was 77 per cent higher at Rs 466 crore. Orders in hand as on December 2004 were 112 per cent higher at Rs 847 crore. On consolidated basis, orders in hand totalled Rs 1,226 crore. The company expects to end the financial year with a topline growth of over 50 per cent on consolidated basis compared to earlier growth estimate of 40 per cent. To serve its buoyant market, the company is taking steps to add capacity. For the longer term, it is actively considering substantial investment in new facilities for its boiler and heater business.
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