Thermax Q3 net swells 77 per cent to Rs100 crore; revenue vaults 66 per cent to Rs1,241 crore

Thermax Ltd, the Rs3,300-crore thermal solutions and environment care company, has reported a 77-per cent year-on-year jump in its after-tax (net) profit for fiscal third quarter (Q3) at Rs100 crore. Profit before tax of the company was up 72 per cent at Rs147 crore for the quarter.

Thermax recorded a 66-per cent increase in its operating revenue for the quarter at Rs1,241 crore, against Rs748 crore in the year-ago quarter.

Operating revenue of the company for the nine months ended 31 December 2010 stood at Rs3,112 crore against Rs1,916 crore during the similar period of the previous financial year. Profit before tax (PBT) was Rs377 crore (Rs238 crore) and profit after tax (PAT) Rs256 crore (Rs157 crore).

Consolidated after-tax profit for the group for the nine-month period ended 31 December 2010 was up 64 per cent at Rs264 crore (Rs161 crore) while operating revenue of the group rose 62 per cent to Rs3,372 crore during the period against Rs2,087 crore during the similar period of the previous year.

During the quarter, the company acquired 100 per cent stake in Danish boiler maker Danstoker A/S, its German subsidiary Omnical GmbH and its associate company Ejendomsanpartsselskabet Industrivej Nord (EIN).

The acquisition gives Thermax access to European markets, manufacturing facilities in Denmark and Germany and know-how to support growth in these markets, the company said.