*Thermax* registered a fall of 11.69% in the consolidated net profit in the
quarter ended December 2008. During the quarter, the profit of the company
fell to Rs 1835 million from Rs 2078 million in the same quarter previous
year.  Consolidated total revenues for the quarter fell marginally by 0.69%
to Rs 24,471 million compared with the prior year period.

The company reported a decline in standalone net profit for the quarter
ended December 2008. During the quarter, the profit of the company declined
3.64% to Rs 722.96 million from Rs 750.30 million in the same quarter last
year.

Net sales declined 5.96% to Rs 7,951 million, while total income for the
quarter fell 5.88% to Rs 8,038.34 million, when compared with the prior year
period.

The company reported earnings of Rs 6.07 a share during the quarter,
registering 3.65% decline over prior year period.


  *Quarterly Results - Standalone (Rs in mn)* *As at* *Dec - 08* *Dec - 07*
*%Change* *Net Sales* 7,950.59 8,454.30 (5.96) *Net Profit* 722.96 750.30
(3.64) *Basic EPS* 6.07 6.30 (3.65)

During the quarter, the operating margin of the company fell by 23.93 basis
points to 12.17% compared with the previous year period. Interest cost
increased 2.27 times to Rs 5.68 million while depreciation cost rose 58.52%
to Rs 83.70 million over previous year period.

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