Moneycontrol Bureau
Thermax missed street expectations on Friday with the third quarter net profit rising 13 percent year-on-year to Rs 76.2 crore. The bottomline was impacted by lower other income and higher tax expenses.
Profit was expected at Rs 82.4 crore on revenue of Rs 1,166 crore for the quarter, according to the average of estimates of analysts polled by CNBC-TV18.
Total income during the quarter increased 13 percent to Rs 1,147 crore from Rs 1,014 crore in the year-ago quarter.
Order intake slipped 10 percent year-on-year to Rs 1,228 crore during October-December quarter. "The drop in order booking was attributable to the domestic segment where enquiry inflow and finalisation remained subdued," said the engineering solutions provider (to the energy and environment sectors) in its filing to the exchange.
The order backlog of the group stood at Rs 6,218 crore, down 4 percent compared to Rs 6,445 crore last year.
Other income plunged to Rs 7.09 crore from Rs 22.9 crore while tax expenses increased to Rs 44.7 crore from Rs 30.1 crore on year-on-year basis.
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