India's BHEL reports bigger-than-expected Q1 loss on rise in expenses

BENGALURU, Aug 4 (Reuters) - Indias state-owned Bharat Heavy Electricals Ltd (BHEL) (BHEL.NS) reported a bigger-than-expected loss for the first-quarter on Friday, hurt by higher expenses.

The the power generation equipment manufacturers standalone net loss widened to 3.52 billion rupees ($42.5 million) in the quarter ended June 30, from 1.92 billion rupees a year earlier.

Analysts, on average, were expected the loss to reduce to 978.2 million rupees, according to Refinitiv IBES data.

BHELs income from operations climbed 8.3% to 48.18 billion rupees.

However, the rise in revenue could not outrun an 11.8% rise in total expenses to 55.95 billion rupees.

The company has a 55% share in Indias total installed coal-based power generation capacity, according to company data. Nearly three-fourth of Indias electricity comes from thermal plants.

BHELs stock closed down 1.79% at 98.95 rupees ahead of the results.

($1 = 82.8130 Indian rupees)