Sustainable energy solutions provider Thermax posted a better-than-expected jump of 52 per cent in fourth-quarter net profit on Wednesday, helped by a 16 per cent rise in sales.
Consolidated net profit rose to Rs 156 crore for the three months ended 31 March, from Rs 103 crore a year earlier.
Analysts, on average, had expected a profit of Rs 152 crore, according to Refinitiv IBES data.
Meanwhile, Thermax saw a decline of 34 per cent or Rs 2254 crore, in its order book in the quarter as the corresponding quarter a year ago had included two significantly large orders.
In March, Thermax signed an agreement with Fortescue Future Industries to explore green hydrogen projects in India, with this foray, the company’s green solutions segment contributed 28 per cent to the order book.
Revenue from operations rose to Rs 2311 crore, helped by its industrial infra segment that deals in engineering for power plants, which registered a healthy momentum and grew nearly 18 per cent, benefiting from a softening in commodity prices.
The company’s board also declared a dividend of 10 rupees per share.
Thermax shares had risen 16.5 per cent during the quarter that ended March and climbed 23.6 per cent so far this year.
