Thermax Shares Drop 16% as Q1 Profit Falls 83%

Thermax Limited is a company that makes machines and equipment.

In the first part of the year, it earned a lot less money than it did last year, dropping from 152.4 crore rupees to just 25.2 crore rupees.

Even though it sold more products, the extra costs made its earnings very low.

The company had to spend an extra 91 crore rupees on a big project, which hurt its profit.

Because of this, investors sold a lot of the company's shares, and the price fell by about 16%.

The company also said it will combine some of its smaller businesses into one group.