TransCanada profit falls on costs tied to Columbia Pipeline deal

Thu Jul 28, 2016 7:43am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

July 28 (Reuters) - TransCanada Corp, Canada's second-largest pipeline company, reported a 14.9 percent decline in quarterly profit due to costs related to its acquisition of Columbia Pipeline Group.

Net income attributable to the company's common shares fell to C$365 million ($277.4 million), or 52 Canadian cents per share, in the second quarter ended June 30 from C$429 million, or 60 Canadian cents per share, a year earlier.

The Calgary-based company's revenue rose 4.6 percent to C$2.75 billion.

TransCanada completed the $10.3 billion acquisition of Columbia Pipeline on July 1, creating one of North America's largest natural gas transmission businesses. ($1 = 1.3158 Canadian dollars) (Reporting by Amrutha Gayathri in Bengaluru; Editing by Anil D'Silva)