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May 6 (Reuters) - Husky Energy Inc, Canada's No.3 integrated oil company, reported a 71 percent drop in quarterly profit, hurt by weak oil and gas prices.
The company's net income fell to C$191 million ($159 million), or 17 Canadian cents per share, in the first quarter ended March 31 from C$662 million, or 66 Canadian cents per share, a year earlier.
Husky said the earnings included C$203 million in deferred tax recovery. ($1 = C$1.20) (Reporting by Manya Venkatesh in Bengaluru and Scott Haggett in Calgary; Editing by Kirti Pandey)