Thermax shares plunge over 5% as Q2 profit drops

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Mumbai | Updated: Oct 28, 2015 4:25 PM

Thermax on Tuesday reported 24.6 per cent drop in standalone net profit at Rs 64.83 crore for the quarter ended September 30, 2015.

ThermaxShares of engineering solutions provider Thermax on Wednesday slumped over 5 per cent after the company reported 24.6 per cent plunge in standalone net profit for the quarter ended September 30, 2015. (Express Photo)

Shares of engineering solutions provider Thermax on Wednesday slumped over 5 per cent after the company reported 24.6 per cent plunge in standalone net profit for the quarter ended September 30, 2015.

The stock plunged 5.38 per cent to Rs 845.15 on BSE. At NSE, shares of the company dipped 4.84 per cent to Rs 848.

Thermax on Tuesday reported 24.6 per cent drop in standalone net profit at Rs 64.83 crore for the quarter ended September 30, 2015.

The company’s net profit in the year-ago period was Rs 86.01 crore, Thermax had said in a regulatory filing. Total income of the company during the period decreased to Rs 1,069.62 crore from Rs 1,180.31 crore in the year-ago period.

“As on September 30, Thermax has an order backlog of Rs 4,006 crore against Rs 5,016 crore in September, 2014,” the company had said in a statement.

Thermax Ltd, a leading energy and environment solutions provider, has manufacturing facilities in India, China and Europe.

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