Thermax shares crash 16% after firm expects weak quarters ahead after muted Q1 results
Shares of Thermax tumbled as much as 16% to an intraday low of Rs 3,567 on the BSE on Friday after the company reported an 86% year-on-year decline in net profit to Rs 22 crore for the first quarter of FY27. The sharp drop in earnings was largely due to a one-time project cost overrun of Rs 91 crore recognised in the Industrial Infra segment.Despite the weak bottom line, revenue from operations rose 7% year on year to Rs 2,303 crore, compared with Rs 2,158 crore in the corresponding quarter of the previous fiscal, according to the company's investor presentation.The company's earnings before i