Consolidated net sales declined 1.8% year-on-year (YoY) to Rs 1,410.05 crore in Q3 FY20. The result came in after market hours yesterday, 4 February 2020.
Profit before tax surged 341.40% to Rs 105.44 crore in Q3 FY20 as compared to Rs 23.89 crore posted in Q3 FY19. Current tax expenses, for the quarter, tumbled 58.5% to Rs 19.18 crore over Rs 46.27 crore paid in Q3 December 2018.
The company's environment segment has bagged the second large flue gas desulphurisation (FGD) order worth Rs 431 crore during the quarter from a public-private joint venture power company for its thermal power plant in Jharkhand. At the consolidated level, the order booking for the quarter, stood at Rs 1,606 crore, recording a 8.5% rise in Q3 December 2019 over Q3 December 2018. As of 31 December 2019, Therrnax Group had an order balance of Rs 5,439 crore, down by 16% this quarter as against the corresponding quarter previous year.
The board has appointed Ashish Bhandari as the joint managing director of the Thermax Group effective 20 April 2020 following which he would move into the role of managing director and CEO.
Thermax is engaged in the business of manufacture and sale of boilers, heating and cooling equipment, industrial chemicals, and water and waste management equipment. The firm also undertakes turnkey contracts for power plants, and provides operation and maintenance services for the same.