Teck Resources' profit falls as coal prices remain weak

Thu Jul 24, 2014 5:13am EDT
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July 24 (Reuters) - Canadian diversified miner Teck Resources Ltd reported a 44 percent drop in quarterly earnings, mainly due to "significantly" lower coal prices.

Net profit attributable to shareholders fell to C$80 million ($74.6 million), or 14 Canadian cents per share, in the second quarter ended June 30, from C$143 million, or 25 Canadian cents per share, in the same period a year earlier.

Revenue fell 6.6 percent to C$2.01 billion. ($1 = 1.0722 Canadian dollars) (Reporting by Sneha Banerjee in Bangalore; Editing by Gopakumar Warrier)