Canada's Precision Drilling posts quarterly loss
April 25 (Reuters) - Canadian rig contractor Precision Drilling Corp posted a quarterly loss, compared with a year-ago profit, hurt by lower demand for rigs amid a prolonged oil slump.
The company posted a net loss of C$19.9 million ($15.7 million), or 7 Canadian cents per share, for the first quarter ended March 31.
It earned C$24 million, or 8 Canadian cents per share, a year earlier.
Revenue fell 41 percent to C$301.7 million in the latest quarter. ($1 = C$1.27) (Reporting by Vishaka George in Bengaluru; Editing by Savio D'Souza)
© Thomson Reuters 2016 All rights reserved.