Thermax Ltd, on 3 November, announced its quarterly earnings for the quarter ending on 30 September 2023.

The Energy and environment solutions provider reported a 45% year-on-year (YoY) increase in its net profit at Rs 158.6 crore for the quarter from Rs 109.14 crore reported in the year-ago quarter. The surge in net profit was due to higher revenues and a decrease in the inventories of finished goods and traded goods.

The company reported a 11% YoY increase in its revenue from operations at Rs 2,302.46 crore for the quarter from Rs 2,075.26 crore reported in the same quarter during the previous fiscal year.

On the operation front, the EBITDA (earnings before interest, taxes, depreciation and amortisation) for the quarter ending on 30 September was at Rs 270.48 crore, which is a 50% surge against Rs 180.38 crore reported in the corresponding quarter of the previous fiscal year. The EBITDA margins expanded by 289 basis points to 11.4% from 8.5% in Q2FY23.

The company offers integrated innovative solutions in the fields of heating, cooling, water and waste management, power, chemical, and air pollution control. It has manufacturing facilities in Europe, India, and Southeast Asia.