For the first quarter of FY 2019-20, at the consolidated level, Thermax posted an operating revenue of Rs 1,392 crore, up 34 per cent as compared to Rs 1,035 crore in the corresponding quarter, last year. Profit after tax for the quarter was 29 per cent higher at Rs 63 crore (Rs 49 crore).
As on June 30, 2019, Thermax group had an order balance of Rs 5,250 crore (Rs.6,420 crore), down 18 per cent. Order booking for the quarter was 26 per cent lower at Rs 1,217 (Rs 1,652 crore) on account of slowdown in investment sentiment witnessed in both domestic and international markets.
Pursuant to acquisition of shares in Thermax Babcock and Wilcox Energy Solutions (TBWES) and Thermax SPX Technologies (TSPX), their financial results have been consolidated as wholly owned subsidiaries as compared to ‘Equity’ basis consolidation during Q1 last year. Hence, the results of the Group are not comparable.
On a standalone basis, including discontinued operations, Thermax posted an operating revenue of Rs 1,168 crore during the quarter, 38 per cent higher as compared to Rs 849 crore in the previous year. Profit after tax for the quarter was Rs 50 crore, up 11 per cent from last year’s Rs. 45 crore. Order balance on June 30, 2019 stood at Rs. 4,672 crore (Rs. 5,873 crore), down 20 per cent. Order booking for the quarter, Rs 1,062 crore (Rs 1,430 crore) was 26 per cent lower.
