Oilfield operator Cairn India on Monday reported a more than threefold jump in its quarterly profit, but failed to meet analysts' expectations.

Cairn India said its net profit jumped more than threefold to Rs 2,320 crore ($434 million) in the quarter ended September 30 year-on-year. The net profit figure is considerably down from analysts' median estimate of Rs 2,790 crore.

Revenues climbed 68 per cent to settle at Rs 4,440 crore in the same quarter.

The 5.3 per cent surge in the value of rupee against the US dollar during the three months to the end of September also dragged the value of Cairn India's profits down from crude oil sales. It may be noted here that Cairn India prices its crude oil sales in the US currency.

Production from Cairn India's largest field in Rajasthan has remained almost stagnant in the current year because it is still awaiting government's approval for expansion of a pipeline to carry crude oil to the coast.

Neelabh Sharma, ananalyst with BOB Capital Markets Ltd., said, "Cairn is currently constrained by its crude handling capacity, including the pipeline."

The company said it has begun working on increasing the capacity of its 670 km pipeline in the Barmer region in Rajasthan.

Stock in Cairn India was trading at Rs 337.8 a share, at a gain of 1.26 per cent, on the Bombay Stock Exchange (BSE) before the announcement of earnings.