Thermax, a global engineering solution provider in the energy and environment sectors, has signed an agreement to acquire 33% stake in First Energy, an alternative energy solutions company. The agreement envisages stage wise acquisition of First Enegry by Thermax over the next 4 to 6 years.
The partnership offers Thermax synergy and new opportunities in the commercial space to serve customers with alternative and cost saving solutions.
For the year ended March 31, 2015, the company has posted a jump of 32.79% in its net profit at Rs 335.93 crore as compared to Rs 252.97 crore for the same period in the previous year. Total income of the company has surged by 10.12% at Rs 4808.28 crore for year under review as compared to Rs 4366.46 crore for the period ended March 31, 2014.
