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Thermax Q4 net profit drops 8 Percent

Capital goods maker Thermax Ltd on Tuesday reported an 8 Percent drop in net profit for the fourth quarter, as the economic environment remained subdued and investments continued to be stalled, the company said in a statement. Net profit for the three months ended 31 March fell to INR105.9 crore from INR 115.32 crore in the same quarter last year. Revenue fell 6 Percent to INR  1,382.52 crore.

The company said the order intake for fiscal 2013-14 improved to INR 5,394 crore from INR4,859 crore in the previous year. The order backlog for the year was at INR6,121 crore, Thermax said. During the year, the company won an order worth INR 1,700 crore from a leading petrochemicals company for designing, manufacturing and commissioning nine high-pressure boilers, it said. The results were announced after market hours.

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