Pipeline Operator Enbridge's Profit Rises as Shipments Increase



Reuters


Nov 5 (Reuters) – Enbridge Inc, Canada's largest pipeline company, reported a 15.7 percent rise in quarterly adjusted profit, helped by increased throughput as producers moved more oil by pipelines than on rail.

The Calgary-based company's adjusted earnings rose to C$399 million ($303.4 million), or 47 Canadian cents per share, in the third quarter ended Sept. 30, from C$345 million, or 41 Canadian cents per share, a year earlier. ($1 = 1.32 Canadian dollars)

(Reporting by Amrutha Gayathri in Bengaluru; Editing by Sriraj Kalluvila)

 



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