Thermax profit after tax up 59% y-o-y to Rs 126 cr in Dec quarter

Energy and environment solutions provider Thermax on Tuesday posted a 59 per cent jump in its net profit to Rs 126 crore in the December quarter mainly due to higher revenues.

“Profit after tax (PAT or net profit) stood at Rs 126 crore, up 59 per cent as compared to Rs 79 crore in the corresponding quarter of FY 2021-22,” a company statement said.

For the third quarter of FY 2022-23, Thermax posted a consolidated operating revenue of Rs 2,049 crore in the quarter compared to Rs 1,615 crore in the same period a year ago.

The profitability was driven by good performance in all three segments – Energy, Environment and Chemical; last year’s margins were affected by higher commodity and freight costs, which have now stabilised, the company said.