Energy and environment solutions company Thermax Group on Friday reported a 20% year-on-year rise in consolidated net profit to Rs 188 crore and a 20% growth in revenues to Rs 2,764 crore during the January-March quarter. The order booking for the quarter was 2% higher at Rs 2,309 crore. The order balance for the quarter was Rs 10,111 crore, up by 4% y-o-y.
Thermax’s standalone net profit was up 7% to Rs 129 crore, while revenues grew by 17% to Rs 1,738 crore. The order booking for the quarter was higher by 9% at Rs 1,623 crore.
During the quarter, the company completed the acquisition of 51% of TSA Process Equipments for Rs 71.14 crore. Further, the company has a right to acquire the remaining 49% of the shares over two years from the closing date, subject to completion of certain conditions.
The board has recommended a dividend of Rs 12 per share for 2023-24.