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Published on 5/02/2019 1:44:59 PM | Source: Reuters

BHEL third-quarter profit surges over 25 percent but misses estimates

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State-run power plant equipment manufacturer Bharat Heavy Electricals Ltd posted a 25.3 percent rise in third-quarter profit on Tuesday but missed analysts' estimates.

Net profit came in at 1.92 billion rupees ($26.78 million), compared with 1.53 billion rupees a year ago, the company said.

Analysts on average had expected BHEL to post a profit of 2.54 billion rupees, according to Refinitiv data.

Total revenue from operations stood at 73.36 billion rupees, the New Delhi-headquartered company said.

($1 = 71.6860 rupees)

(Reporting by Chandini Monnappa in Bengaluru)