Indian engineering company Thermax Ltd reported a 38.5% rise in net profit for the first quarter on Thursday, boosted by strong operating performance and better margins.Net profit for the three months ended June 30 rose to ₹151.5 crore, up from ₹109.4 crore a year earlier, and beat CNBC-TV18’s poll estimate of ₹138.5 crore.
Revenue during the quarter declined 1.6% year-on-year to ₹2,150 crore, missing estimates of ₹2,437 crore.
EBITDA for the quarter jumped 59.5% to ₹225 crore from ₹141.2 crore a year earlier, while EBITDA margin improved to 10.5% from 6.5% in the same period last year. Analysts had expected a margin of 8.2%.
Revenue during the quarter declined 1.6% year-on-year to ₹2,150 crore, missing estimates of ₹2,437 crore.
EBITDA for the quarter jumped 59.5% to ₹225 crore from ₹141.2 crore a year earlier, while EBITDA margin improved to 10.5% from 6.5% in the same period last year. Analysts had expected a margin of 8.2%.
Segment-wise, Industrial Products posted a marginal decline in revenue and lower profit at ₹78 crore, with PBIT margin easing to 8.1% from 9.0% last year.
Industrial Infrastructure reported a profit of ₹71 crore, rebounding from a loss of ₹18 crore a year ago, aided by income from the state’s Package Scheme of Incentives (PSI).
Chemicals revenue remained flat, but PBIT dropped to ₹16 crore from ₹30 crore, impacted by higher input costs and changes in the product mix.
The Green Solutions segment, though not separately disclosed in the financials, showed improvement due to operational efficiencies and new projects, the company said.
Shares of Thermax closed 2% higher at ₹3,911.50 ahead of the results.
