The quarterly performance was reportedly impacted by a ₹91 crore increase in the estimated cost to complete one specific project in the industrial infra segment following events identified during the quarter.

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Thermax shares fell more than 16 per cent on Friday after the company reported an 85 per cent y-o-y decline in net profit for the June quarter, citing a cost overrun in its industrial infra segment and higher expenses. .At 10.10 am, the stock traded at ₹3,772 after hitting an intraday low of ₹3,566.50 from the previous close of ₹4,251.50.According to the company, consolidated net profit fell to ₹22 crore in the first quarter of FY2026-27 from ₹151.45 crore in the corresponding quarter of the previous financial year.The company reported consolidated operating revenue of ₹2,303 crore for the quarter, up 7 per cent from ₹2,158 crore a year earlier.The quarterly performance was reportedly impacted by a ₹91 crore increase in the estimated cost to complete one specific project in the industrial infra segment following events identified during the quarter.The company also said the corresponding quarter of the previous financial year had included ₹56 crore of income under the Package Scheme of Incentives for a subsidiary in the Industrial Infra segment. Lower export sales also weighed on the profitability of the Industrial Products segment during the quarter.The company’s board approved the Scheme of Arrangement and Amalgamation involving Thermax Bioenergy Solutions Private Limited, Thermax Cooling Solutions Limited and Thermax Limited.According to the company, the scheme involves Thermax Bioenergy Solutions Private Limited as the demerged company, Thermax Cooling Solutions Limited as the transferor company and Thermax Limited as the resulting and transferee company. Thermax Bioenergy Solutions Private Limited and Thermax Cooling Solutions Limited are wholly owned subsidiaries of the company.More Like ThisQ1 Results Today Live: Maruti Suzuki, Sun Pharma, Bajaj Finserv, ITC, IOC, Dixon, Bajaj Holdings, ABB India, Kirloskar Brothers, BlueDart, Glenmark, Aether to announce Q1 results, Bajaj Finance, M&M, Hyundai shares up, Vedanta & Tata Steel flat, Swiggy declines, Thermax drags after Q1Published on July 31, 2026