Thermax reports flat Q3 net at Rs 54.77 cr; revenues dip 20%

Energy and environment solutions provider Thermax today reported a flat net profit at Rs 54.77 crore in the third quarter ended December 31, mainly on the back of decline in revenues.

The company had reported a net profit of Rs 54.26 crore in corresponding quarter last fiscal.

Total revenues for the third quarter declined by 20.22 percent to Rs 972.82 crore from Rs 1219.48 crore a year-ago.

During the quarter, the Group's (including joint venture companies) order inflow stood at Rs 1190 crore, up 19 percent over last year.

"While the core sectors of the Indian economy have not indicated any signs of revival, orders from the international market continued to contribute to the improvement in order book," the Pune-based company said in a statement.

As on December 31, 2016, Thermax has an order backlog of Rs 3,975 crore against Rs 3,830 crore in December 2015.