Thermax posted a disappointing set of numbers for Q1FY18. Its consolidated net profit dipped 18% (YoY) at Rs.40 crore mainly on account of lower revenue. Its total income for the quarter was down from Rs.1025 crore to Rs.917 crore. The revenue fall was on account of the lower order carry forward at the start of FY18.

As at 30th June 2017, the company had an order balance of Rs 4,944 crore, up 22%. This jump is mainly because of just one huge order from Africa. The order booking for the quarter, at the consolidated level, was Rs 1,919 crore, up 135%. These figures do not include those of the joint venture companies.