Thermax beats Q4 profit expectations on back of strong sales growth

Indian sustainable energy solutions provider Thermax Ltd posted a better-than-expected jump of 52% in fourth-quarter net profit on Wednesday, helped by a 16% rise in sales.

Consolidated net profit rose to 1.56 billion rupees ($19.08 million) for the three months ended March 31, from 1.03 billion rupees a year earlier.

Analysts, on an average, had expected a profit of 1.52 billion rupees, according to Refinitiv IBES data.

Meanwhile, Thermax saw a decline of 34%, or 22.54 billion rupees, in its order book in the quarter as the corresponding quarter a year ago had included two significantly large orders.