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