Enbridge net profit falls on derivative losses

Wed May 9, 2012 7:21am EDT
 
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(Reuters) - Enbridge Inc's ENB.TO first-quarter net profit fell 27 percent as Canada's second-largest pipeline company incurred losses from the revaluation of financial derivatives.

Net income fell to C$264 million, or 34 Canadian cents per share, from C$364 million, or 48 Canadian cents per share, a year ago.

Adjusted income rose to C$376 million, or 50 Canadian cents per share, from C$330 million, or 44 Canadian cents per share, a year earlier.

(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Sriraj Kalluvila)