New Delhi, Nov 11 (PTI) Energy and environment solutions provider Thermax on Tuesday reported a 40 per cent decline in consolidated net profit to Rs 119 crore in the September quarter due to lower revenues.

“The company’s consolidated profit after tax (PAT) is Rs 119 crore (Rs 198 crore in Q2 FY25), a decrease of 40 per cent," the company said in a statement.

According to the statement, the company recorded a consolidated operating revenue of Rs 2,474 crore during the quarter, a 5 per cent decrease as compared to Rs 2,616 crore in the corresponding quarter of the previous fiscal year.

It said the revenue and profit for the corresponding quarter of the previous year were positively impacted by an accrual of Rs 66 crore recognised as income towards incentives receivable under the Packaged

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