Canada's SNC-Lavalin profit rises on stake sale gain

Thu Nov 5, 2015 8:14am EST
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Nov 5 (Reuters) - Canadian engineering and construction company SNC-Lavalin Group Inc reported a nearly four-fold rise in quarterly profit, helped by a net gain of C$145.7 million ($110.8 million) from the sale of its stake in the Ambatovy Nickel project in Madagascar.

Net income attributable to the company rose to C$224.2 million, or C$1.49 per share, in the third quarter ended Sept. 30, from C$60 million, or 39 Canadian cents per share, a year earlier.

Revenue rose 21 percent to C$2.43 billion. ($1 = 1.31 Canadian dollars) (Reporting by Sneha Banerjee in Bengaluru; Editing by Sriraj Kalluvila)