News
Nov 08, 2009Ormat Industries Q3 net profit, sales rise
TEL AVIV, Nov 8 (Reuters) - Israeli geothermal energy producer Ormat Industries (ORMT.TA) reported a more than doubling of third-quarter net profit on Sunday, boosted by higher sales of electricity from new power plants abroad.
Quarterly net profit rose to $26.7 million from $11.7 million a year earlier.
Revenue rose to $128.9 million from $102.3 million.
Last week its subsidiary Ormat Technologies Inc (ORA.N) posted a 20.2 percent rise in quarterly revenue to $119.8 million as net profit increased 48.1 percent to $23.4 million.
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