The slowdown in the power infrastructure spend has impacted energy and environment solutions company Thermax Ltd which saw its Q4 13 net profit decline by 11% to stand at Rs 115 crore versus Rs 129 crore in the same quarter of last year.
The company’s income from operations stood at Rs 1,468 crore against Rs 1,686 crore in Q4 12 representing a decline of approximately 13% year-on-year basis.
During the fiscal 2012-13, the company posted an operating revenue of Rs 4,691 crore, a dip of 12% compared to Rs 5,304 crore in the previous year. The company’s profit after tax was lower by 14% at Rs. 350 crore, down from last year’s Rs. 407 crore. Export income including deemed exports during the financial year constituted 21% of revenue at Rs. 984 crore (Rs. 1,143 crore).
Even though investments in the power-infrastructure sectors are yet to gain momentum, during the year under review, Thermax order booking stood at Rs. 4,859 crore versus Rs. 4,032 crore in FY 12, translating into an improvement of 21%. In the quarter ending March 31, 2013 order booking stood at Rs. 1,155 crore (Rs. 809 crore).
The Board has recommended a dividend of 350% for FY 13.