MUMBAI (Thomson Financial) - India's Thermax Ltd said its first-quarter net profit rose 103 pct, adding it expects to grow more than 40 pct this fiscal year.
The energy and environment engineering solutions provider reported a net profit of 560 mln rupees for the quarter to June 30, as total revenue -- including sales and other income -- rose 105 pct to 6.76 bln rupees on a year-on-year basis.
It added its order book at the quarter-end was 27.26 bln rupees compared with 24.49 bln the year earlier.
Thermax said that, on a consolidated basis, net profit for the quarter rose more than 114 pct to 556 mln rupees on total revenue of 7.24 bln rupees, up from 3.62 bln.
It added the two new facilities being set up in the western Indian state of Gujarat and Zhejiang in China are slated to be fully operational by March 2008.
It also said MS Unnikrishnan has taken over as managing director effective July 1, after the retirement of Prakash Kulkarni.
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