Feb 2 (Reuters) - Indian engineering firm Thermax posted a 76% rise in its third-quarter profit on Monday, aided by strong order wins.
The Pune-based firm's consolidated net profit rose to 2.04 billion rupees ($22.28 million) for the quarter ended December 31 from 1.16 billion rupees a year ago.
Thermax operates in India's capital goods sector, supplying industrial equipment and systems to power, clean energy and manufacturing clients.
Healthy industrial demand and robust execution likely supported revenues for capital goods companies during the quarter, with orders led by power generation, transmission and distribution and EPC projects, analysts at Elara Capital said in a pre-earnings note.
Thermax's order bookings for the third quarter jumped 34% to 30.80 billion rupees, driven by improved performance in its two key segments, supported by better demand and stronger exports.
The industrial machine maker's quarterly revenue rose 4.2% to 26.35 billion rupees, as revenue from its industrial products segment - its largest - climbed 18%.
The segment delivers equipment for core industrial operations such as boilers, chillers and heating equipment.
Industrial Infra - Thermax's second-largest segment, which includes large-scale infrastructure and energy projects - posted a decline of 9.4% in its third-quarter revenue.
Thermax's bottom line also included exceptional gains of about 59 million rupees on a net basis from the reversal of provisions and related interest income, the company said.
Its shares closed 2% lower on Monday ahead of the results.
($1 = 91.5770 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru; Editing by Ronojoy Mazumdar and Shreya Biswas)
