August 10, 2017 / 7:18 AM / 11 days ago

BHEL June-quarter profit rises 4 percent, but lags estimates

REUTERS - State-run power equipment maker Bharat Heavy Electricals Ltd posted a 4 percent rise in first-quarter standalone net profit, missing analysts estimates.

Standalone net profit, which does not account for income from the company's associates and joint ventures, was 808.2 million rupees ($12.63 million) in the quarter ended June 30, compared with a profit of 777.7 million rupees a year earlier (bit.ly/2vHyy25)

Analysts on average had expected a standalone net profit of 979.1 million rupees, according to Thomson Reuters data.

Expenses for the quarter rose about 2 percent to 60.86 billion rupees.

($1 = 63.9675 Indian rupees)

Reporting by Krishna V Kurup; Editing by Sunil Nair

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