BHEL April-June Profit Nearly Doubles, But Falls Short Of Analysts' Forecasts

State-run power plant equipment maker Bharat Heavy Electricals on Wednesday reported a standalone net profit of Rs 156 crore ($22.68 million) for the quarter ended June 30. Despite the nearly doubling of the net profit on a year-on-year basis, the net profit missed analysts' estimates. The company had registered a net profit of Rs 80.82 crore for the corresponding period a year ago.

Analysts on average had expected a standalone net profit of Rs 173 crore, according to estimates by Thomson Reuters.

Total revenue from operations rose 2.2 per cent to Rs 5,935 crore.