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BHEL Q2 profit soars, but lags forecast

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Reuters
Last Updated : Oct 25 2018 | 12:10 PM IST

(Reuters) - State-run power plant equipment manufacturer Bharat Heavy Electricals Ltd posted on Thursday a 60 percent surge in second-quarter profit, but missed analysts' estimates.

Net profit came in at 1.85 billion rupees ($25.25 million) in the quarter ended Sept. 30, compared with 1.15 billion rupees a year earlier, BHEL said.

Analysts on average had expected the company to post a profit of 2.36 billion rupees, according to Refinitiv estimates.

Total revenue from operations rose 6.3 percent to 67.80 billion rupees.

($1 = 73.2650 rupees)

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(Reporting by Tanvi Mehta in Bengaluru, Editing by Sherry Jacob-Phillips)

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First Published: Oct 25 2018 | 11:55 AM IST

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