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Company News

Enbridge posts quarterly profit on higher crude transportation

Nov 8 (Reuters) - Canadian pipeline company Enbridge Inc reported a quarterly adjusted profit on Friday, as it moved more oil.

Net income attributable to common shareholders was C$949 million ($719.43 million), or 47 Canadian cents per share, in the third quarter ended Sept 30, compared with a loss of C$90 million, or 5 Canadian cents per share, a year earlier.

The loss last year was due to some charges, including a non-cash charge of C$1.02 billion.

$1 = 1.3191 Canadian dollars Reporting By Shradha Singh in Bengaluru; Editing by Shinjini Ganguli

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