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Pune-based Thermax Group, a provider of engineering solutions to the energy and environment sectors, has recorded a consolidated net profit of ₹49 crore in the quarter ended June 30, up 4 per cent compared to the corresponding period of FY18.
Its operating revenue was ₹1,035 crore (₹893 crore) due to higher order carry-forward at the start of FY19.
As on June 30, it had an order balance of ₹6,420 crore, up nearly 30 per cent, with a substantially improved order intake in the domestic market, the company said.
Thermax’s consolidated order booking for the quarter, however, stood at ₹1,652 crore, down 13.9 per cent (₹1,919 crore).
Last year’s figure included a single order exceeding ₹1,000 crore.
A ₹270-crore order for a captive cogeneration power plant from a public sector fertiliser company and a ₹340-crore order from an Indian steel manufacturer for a specially designed boiler, electric turbo generators and ancillary equipment were among the major orders secured during Q1 FY19.
The company’s MD and CEO, MS Unnikrishnan, said the revenue growth for the quarter was largely driven by private sector capex. “There is an improvement in revenue from both energy — which includes industrial heating and industrial cooling — and environment verticals,” he added. “We are expecting double digit growth in revenue as well as profits the current year across verticals.”
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