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Thermax Reports Strong Q3 Earnings; Net Profit Jumps 88%

The company also signed an agreement to acquire a 51% stake in TSA Process Equipments.

Thermax Limited, on 8 February, reported strong growth in its quarterly report for October-December.

The company reported an 88% year-on-year increase to Rs 237.06 crore for the quarter under review from Rs 126.4 crore reported in the same quarter last year.

The revenue for the quarter stood at Rs 2,382.76 crore, marking a 13.9% YoY increase from Rs 2,091.57 crore reported in the same quarter of the previous fiscal year.

The EBITDA (earnings before interest, taxes, depreciation and amortisation) for the quarter stood at Rs 245.82 crore, increasing 20.9% YoY from Rs 203.4 crore reported in Q3FY24. The EBITDA margin expanded by 10.3% during the quarter from 9.7% reported in Q3FY24.

The company added, “Increased revenue has resulted in an increased profit before tax. Also, there was an exceptional gain on account of transfer of leasehold rights of vacant plots amounting to Rs 126 crore.”

Moreover, the board of directors of the company also approved the setting up of an ion exchange resin manufacturing plant at Jhagadia, Gujarat, for a total cost of Rs 45 crore.

Furthermore, on 6 February, the company also signed an agreement to acquire a 51% stake in TSA Process Equipments for a total consideration of Rs 71.14 crore.

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