New Delhi: Energy and environment solutions provider Thermax has posted about 10 percent rise in consolidated net profit at Rs 206 crore for March quarter of FY2024-25 on account of higher revenues on Friday. In the year-ago period, the company earned a profit of Rs 188 crore, a company statement said. Operating revenue during the quarter was at Rs 3,085 crore as against Rs 2,764 crore in the year-ago period.
The board has recommended a dividend of Rs 14 per equity share of Rs 2 each for 2024-25, subject to approval of shareholders. The record date for payment of dividend is fixed at July 4, 2025. The quarterly results were affected by the recognition of higher technology intervention costs amounting to Rs 66 crore in Bio-CNG projects under the Industrial Infra segment.
As of March 31, 2025, the order balance for the quarter was Rs 10,693 crore, up 6 percent from the corresponding quarter of the previous year. The order booking for the quarter was Rs 2,119 crore, showcasing an 8 per cent decrease compared to Rs 2,309 crore in the same quarter of the previous fiscal year.
On a standalone basis, Thermax posted an operating revenue of Rs 1,972 crore during the quarter, a 13 percent growth as compared to Rs 1,738 crore in the corresponding quarter last year. The profit after tax in the quarter stood at Rs 275 crore as against Rs 129 crore in the same period last year.
It stated that the profit for this quarter includes a reversal of impairment loss amounting to Rs 94 crore on the carrying value of the investment in Thermax Netherlands B.V. The order booking for the quarter was lower by 6 percent at Rs 1,526 crore in comparison to Rs 1,623 crore in the previous year. The order balance on March 31, 2025, stood at Rs 6,026 crore down by 3 per cent, year-on-year.
For financial year 2024-25, Thermax Group posted a consolidated operating revenue of Rs 10,389 crore, up 11 per cent as compared to Rs 9,323 crore in the previous year. Profit after tax for the year stood at Rs 627 crore, down 2 per cent from FY24.
The board has approved reappointment of Ashish Bhandari as Managing Director, Chief Executive Officer of the company for a further period of five years with effect from September 1, 2025.