May 29, 2018 / 7:07 AM / 23 days ago

Bharat Heavy Electricals fourth-quarter profit more than doubles, but misses expectations

(Reuters) - State-run power plant equipment maker Bharat Heavy Electricals Ltd’s fourth-quarter net profit more than doubled from a year earlier, but missed analysts’ expectations.

Net profit rose to 4.57 billion rupees ($67.35 million) in the quarter ended March 31, from 2.16 billion rupees a year earlier, the company said on Tuesday.

Analysts on average had expected a profit of 5.19 billion rupees, according to Thomson Reuters data.

The company incurred tax expenses of around 6.82 billion rupees for the quarter.

Total revenue from operations fell 1 percent to 101.44 billion rupees.

($1 = 67.8550 Indian rupees)

Reporting by Jessica Kuruthukulangara and Arnab Paul in Bengaluru; Editing by Subhranshu Sahu

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