Published on 8/02/2018 2:40:41 PM | Source: Reuters

BHEL third-quarter profit rises, but lags expectations

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 Indian power plant equipment maker Bharat Heavy Electricals Ltd posted a nearly 64 percent rise in third-quarter net profit, but missed analysts' expectations.

Net profit rose to 1.53 billion rupees ($23.81 million), from 935.4 million rupees a year earlier.

Analysts on average had expected a profit of 1.90 billion rupees, according to Thomson Reuters data.

Total revenue from operations rose marginally to 66.26 billion rupees.

($1 = 64.2550 Indian rupees)

(Reporting by Tanvi Mehta in Bengaluru; Editing by Subhranshu Sahu)