Pune, Apr 27: The Pune-based Thermax Ltd sales turnover has slipped marginally by 5 per cent to Rs 496.48 crore for the year ended March 1999 as against Rs 522.70 crore reported last year. The net profit however fell by 15.9 per cent to Rs 38.14 crore compared to Rs 45.33 crore recorded last year.In the last quarter, the company chalked turnover of Rs 188.02 crore and earned a net profit was Rs 33.16 crore. The unaudited provisional financial results were announced at the company's board meeting held in Pune on Tuesday.
The company is reviewing its systems, products and processes for Y2K compliance which would be achieved by June 20, 1999. The company will be spending Rs 35 lakhs for Y2K compliance and has put in place contingency plans in the event of any Y2K related problems.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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