Stocks

Thermax shares plunge 6% on weak earnings

PTI Mumbai | Updated on January 23, 2018 Published on October 28, 2015

Shares of engineering solutions provider Thermax Ltd today slumped 6 per cent after the company reported 24.6 per cent plunge in standalone net profit for the quarter ended September 30, 2015.

The stock plunged 5.88 per cent to Rs 840.65 on the BSE. On the NSE, the shares dipped 6 per cent to Rs 837.

Thermax had yesterday reported 24.6 per cent drop in standalone net profit at Rs 64.83 crore for the quarter ended September 30, 2015.

Net profit in the year-ago period was Rs 86.01 crore, Thermax had said in a regulatory filing.

Total income during the period decreased to Rs 1,069.62 crore from Rs 1,180.31 crore in the year-ago period.

“As on September 30, Thermax has an order backlog of Rs 4,006 crore against Rs 5,016 crore in September, 2014,” the company had said in a statement.

Thermax Ltd, a leading energy and environment solutions provider, has manufacturing facilities in India, China and Europe.

Published on October 28, 2015

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