Ormat Industries Q3 net profit, sales rise

TEL AVIV, Nov 8 - 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.