New Delhi, May 17 (PTI) Thermax on Wednesday posted a 51 per cent rise in its consolidated net profit to Rs 156 crore in the March quarter compared to a year ago mainly on the back of higher revenues.

Profit after tax (PAT) stood at Rs 103 crore in the corresponding quarter of FY'22, a company statement said.

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The company posted a consolidated operating revenue of Rs 2,311 crore which is 16 per cent higher than Rs 1,992 crore in the same quarter year ago.

For the financial year 2022-23, Thermax Group posted consolidated operating revenue of Rs 8,090 crore, up 32 per cent as compared to Rs 6,128 crore in the previous year.

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The profit after tax for the year stood at Rs 451 crore up 45 per cent from Rs 312 crore in 2021-22.

It stated that the order booking for the quarter under review was 34 per cent lower at Rs. 2,254 crore compared to Rs 3,396 crore a year ago.

Order booking for the year at a consolidated level stood at Rs. 8,788 crore as compared to Rs. 9,410 crore in FY'22, down 7 per cent, it stated.

The Board of Directors have recommended a dividend of Rs 10 per equity share of Rs 2 each (500%), for the financial year 2022-23, subject to approval of shareholders at the ensuing 42nd Annual General Meeting.

Record date for the payment of dividend is fixed as Friday, July 21, 2023.

Energy and environment solutions provider Thermax offers integrated innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals. It has manufacturing facilities in India, Europe and Southeast Asia.

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