April 25, 2016 / 10:12 AM / in a year

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)

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