Thermax Q2 Results 2024: Profit Rises by 24.92% YOY | Company Business News

Thermax Q2 Results 2024:Thermax declared their Q2 results on 13 Nov, 2024, showcasing a robust performance with a topline increase of 13.43% year-over-year. The company’s profit surged by 24.92%, amounting to ₹197.03 crore, while revenue reached ₹2611.59 crore.

In comparison to the previous quarter, Thermax experienced substantial growth, with revenue climbing by 19.56% and profit soaring by 70.13%. This strong performance indicates a positive trajectory for the company in the current financial year.

The company’s selling, general, and administrative expenses rose by 10.83% quarter-over-quarter and increased by 13.59% year-over-year. Despite these rising expenses, the operating income saw a remarkable growth of 124.41% quarter-over-quarter and 37.42% year-over-year, illustrating the company’s efficiency in managing costs amidst growth.

Earnings per share (EPS) for the quarter stood at ₹17.49, reflecting an increase of 24.93% year-over-year. This positive EPS growth is likely to bolster investor confidence in Thermax’s financial health.

In terms of stock performance, Thermax shares have delivered a -3.5% return over the last week and a -3.53% return over the past six months, although they have achieved an impressive 59.28% return year-to-date. The current market capitalization of Thermax is ₹55281.93 crore, with a 52-week high of ₹5839.95 and a low of ₹2500.25.

As of 14 Nov, 2024, out of 19 analysts covering Thermax, the ratings are mixed, with 1 analyst giving a Strong Sell rating, 8 analysts suggesting Sell, 6 analysts recommending Hold, while 2 analysts have issued Buy ratings, and another 2 analysts giving a Strong Buy rating. The consensus recommendation remains to Hold.

Overall, Thermax’s Q2 results reflect a solid financial performance despite external challenges, positioning the company well for future growth.

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