Thermax Ltd. reported around 20 percent drop in both its profit and sales in the April to June quarter.
Net profit declined 19 percent to Rs 45.22 crore from Rs 56 crore in the corresponding quarter last year, according to the company's filing on the exchanges. Net sales fell 21.6 percent to Rs 791.4 crore.
Order balance position reflected the challenges in the core sectors of the domestic economy, and the sluggish growth in the overseas markets in which the group operates.Thermax's Press Release
Earnings before interest, tax, depreciation and amortisation declined 19.14 percent year on year to Rs 63.72 crore. However, the EBITDA margin stayed flat at 7.8 percent.
Shares of the company fell immediately after the earnings announcement, but recovered to trade 0.7 percent higher at Rs 910 at 1:30 pm.
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