Thermax rallies 8% on robust Sept quarter earnings

Shares of Thermax rallied over 8 percent intraday on Wednesday after it announced stellar September quarter earnings. The Pune-based energy solutions provider reported over two-fold jump in its net profit at Rs 86 crore for the quarter ended September 30, 2014. The company had posted a net profit of Rs 30.16 crore in the corresponding quarter of the last financial year.

Total income increased to Rs 1,213.96 crore during the quarter under review from Rs 1,050.81 crore in the same quarter of the last financial year, Thermax said in a statement.

MS Unnikrishnan, managing director of the company is confindent of a double-digit growth of around 10 percent for FY15. "The order intake has also gone up by around 42 percent. For the first time in the history of the company, a quarterly order intake is more from outside India than from India. We have been able to possibly garner more business from outside India knowing fully well things have not happened very well so far but will happen for the future," he said in an interview to CNBC-TV18. (Full interview here)

During the quarter, the company had an order inflow of Rs 1,089 crore. Order booking has been helped by improvement in the demand for its standard products in the domestic market and also project orders from the international market, the company said in a statement.

As on September 30, 2014, Thermax has an order backlog of Rs 5,016 crore against Rs 5,308 crore in the same period of last year.

At 12:25 hrs the stock was quoting at Rs 952.70, up Rs 40.70, or 4.46 percent on the BSE.