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

Reuters 

- State-run power equipment maker 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 (http://bit.ly/2vHyy25)

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

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, August 10 2017. 12:47 IST
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