CP Rail's profit rises 17 pct

Tue Apr 22, 2014 7:44am EDT
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April 22 (Reuters) - Canadian Pacific Railway Ltd, the country's second largest railroad, reported a 17 percent jump in first-quarter earnings on Tuesday as it improved efficiency despite facing one of the harshest winters in decades.

Net earning rose to C$254 million ($231 million), or C$1.44 per share, in the quarter ended March 31, from C$217 million, or C$1.24 per share, it earned during the same period a year ago.

The company's operating ratio, a key measure for efficiency, improved 380 basis points to 72 percent. ($1 = 1.1018 Canadian Dollars) (Reporting by Solarina Ho in Toronto and Ashutosh Pandey in Bangalore; Editing by Maju Samuel)