Cenovus Energy posts smaller loss on foreign exchange gain

Wed Apr 27, 2016 6:18am EDT
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April 27 (Reuters) - Canadian oil producer Cenovus Energy Inc reported a smaller quarterly loss, helped mainly by foreign exchange gains.

Net loss narrowed to C$118 million ($94 million), or 14 Canadian cents per share, in the first quarter ended March 31, from a loss of C$668 million, or 86 Canadian cents per share, a year earlier.

The company recorded foreign-exchange gains of C$403 million in the latest quarter, compared with forex losses of C$515 million a year ago.

Revenue fell 28.3 pct to C$2.25 billion. ($1 = C$1.26) (Reporting by Vishaka George in Bengaluru; Editing by Savio D'Souza)