Thermax Ltd Reports Dramatic Profit Surge and Expansion Move

Thermax Ltd has more than doubled its net profit to Rs 209.77 crore for the December quarter, driven by increased income. The company also plans to expand by establishing a new subsidiary in Dubai. Total income rose significantly, showcasing Thermax's strategic growth in the energy sector.

Thermax Ltd has announced a significant boost in its net profit, reporting a more than two-fold increase to Rs 209.77 crore in the December quarter. This surge was attributed to higher income, as detailed in the company's exchange filing on Monday.

In comparison, the company had registered a net profit of Rs 90.46 crore in the corresponding quarter of the previous financial year. Total income rose to Rs 2,697.41 crore, up from Rs 2,560.23 crore a year earlier, highlighting Thermax's impressive financial performance.

Furthermore, the board approved the establishment of a wholly owned step-down subsidiary in Dubai through Thermax Engineering Singapore Pte Ltd, signaling an ambitious expansion strategy in the energy and environment solutions sector.

(With inputs from agencies.)