Thermax posted a 174% year-on-year (y-o-y) increase in the company’s consolidated net profit at Rs 107 crore for the quarter ended March 31, 2021, primarily driven by strong growth in revenue, cost reduction measures and better margins in the energy segment.
The company had posted a consolidated net profit of Rs 39 crore in the corresponding quarter, which was impacted by the disruptions caused by the Covid-19 outbreak.
The capital goods major’s consolidated revenue from operations was higher by 19% y-o-y to Rs 1,575 crore, while fresh orders during the quarter jumped a sharp 57% y-o-y to Rs1,497 crore aided by a broad-based recovery.
For the full year ended March 31, 2021, the company maintained its consolidated net profit levels as it reported a decline of 2% to Rs 207 crore, compared to last year.
The revenue from operations during the year came in at Rs 4,791 crore, registering a decline of 16.4% compared to the previous year. The order book during the year was at Rs 4,784 crore, declining nearly 13% from 2019-2020 levels of Rs5,498 crore, and an order balance of Rs 5,227 crore.