Thermax Q4 net more than doubles to Rs 75 cr
Thermax today posted more than double consolidated net profit of Rs 75.69 crore in the quarter ended March 2018.
The company's consolidated net profit was Rs 35.31 crore in the quarter ended March 2017, a BSE filing said.
According to the statement, total income of the company stood at Rs 1,486.97 crore in the quarter under review as compared to Rs 1,548.73 crore a year ago.
Besides approving the financial results, the board today also approved a dividend of Rs 6 per equity share of Rs 2 each (300 per cent), for 2017-18 subject to approval of shareholders at the ensuing 37th annual general meeting.
Thermax Group posted a consolidated revenue of Rs 4,486 crore in 2017-18 compared to Rs 4,590 crore in the previous year.
Its net profit after tax and minority interest for 2017-18 was Rs 231 crore compared to Rs 216 crore in the previous fiscal.
The consolidated order intake as on March 31, 2018, was Rs 6,380 crore, 45 per cent higher than last year's Rs 4,394 crore. Order backlog for the period stood at Rs 5,689 crore, 43 per cent higher than last year's Rs 3,976 crore, it said.
The consolidated order intake in the fourth quarter stood at Rs 1,599 crore (Rs 1,172 crore in year ago).
In Q4, Thermax concluded two major orders in the fertiliser sector for setting up captive cogeneration plants on an EPC basis.
Work at company's upcoming manufacturing facility at Sri City, Andhra Pradesh, is nearing completion.
Thermax's newly established chemical facility at Dahej has stabilised its operations and is in the process of planning the next phase of expansion.
The company has entered into a preliminary understanding with Babcock & Wilcox India Holdings Inc. (B&W) to acquire the shareholding of the latter in the JV, Thermax Babcock & Wilcox Energy Solutions Private Limited (TBWES). The transaction will provide Thermax access to the manufacturing facility of TBWES and also to a wider range of B&W technologies. The parties are working towards a definitive agreement to conclude the transaction, it added.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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