Mumbai: Capital goods maker Thermax posted an expectations busting jump in profit for the quarter ending June, on a strong growth in both energy and environment segments.
Pune-based Thermax posted 42 percent jump in standalone net profit for the quarter to Rs 66.17 crore, while a Reuters poll of brokerages had a forcast of Rs 59.6 crore.
The firm's unexecuted orderbook surged 96 per cent on year in the quarter to Rs 6330 crore, while the consolidated order book stood at Rs 6984 crore - a 104 per cent rise, it said in statement.
"The order inflow momentum is quiet strong...order book itself would drive stronger growth through the quarters this year," said Gopal Ritolia, analyst at brokerage IIFL.
Thermax gets 5.80 bln rupee order from a petrochemical firm
It reported a 49 percent growth in net sales to Rs 779 crore, against a poll forcast of Rs 713 crore.
Revenues from the environment segment jumped 75 per cent to Rs 220 crore, while the larger energy segment rose 43 per cent to Rs 606 crore, it said.
Thermax sees openings in renewable energy
At 12:34 pm, Thermax shares were up 2.05 per cent to Rs 785.5 in a Mumbai market that was up 0.55 per cent. Thermax, with a market valuation of $1.95 billion, gained 26.5 per cent since January.
