(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