April 23, 2014 / 11:26 AM / 3 years ago

CORRECTED-Higher tax bill hurts Ingersoll-Rand's profit

1 Min Read

(Corrects paragraph 4 to say revenue rose 3 percent to $2.72 bln, not 4 percent to $2.73 bln)

April 23 (Reuters) - Ingersoll-Rand Plc, maker of Trane airconditioners, reported a 10 percent decline in quarterly profit as its tax bill jumped.

The company's net profit fell to $79 million, or 28 cents per share, in the first quarter ended March 31 from $88 million, or 29 cents per share, a year earlier.

Provision for income tax rose to $24.5 million from $4.5 million in the year ago, the company said.

Revenue rose 3 percent to $2.72 billion. (Reporting by Rohit T. K. in Bangalore; Editing by Kirti Pandey and Saumyadeb Chakrabarty)

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