Pipeline operator TransCanada's net profit falls on derivatives

Fri May 1, 2015 8:14am EDT
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May 1 (Reuters) - TransCanada Corp , Canada's second-largest pipeline company, reported a 6.1 percent fall in quarterly net profit, hurt by derivative losses.

Net income attributable to shareholders fell to C$387 million ($320 million), or 55 Canadian cents per share, in the first quarter ended March 31, from C$412 million, or 58 cents per share, a year earlier.

Comparable earnings rose about 10 percent to C$465 million as a strong performance by the company's Keystone System, Eastern Canadian Power and U.S. Power units helped to offset depressed power prices.

($1 = 1.2101 Canadian dollars) (Reporting by Sneha Banerjee in Bengaluru; Editing by Ted Kerr)