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Company News

Canada's Enbridge posts 5% fall in quarterly profit

July 29 (Reuters) - Canadian pipeline operator Enbridge Inc said on Wednesday quarterly profit fell 5%, as it transported lower volumes of oil after the country’s producers curbed output to cope with a coronavirus-led plunge in demand.

Net income attributable to common shareholders fell to C$1.65 billion ($1.24 billion), or 82 Canadian cents per share, in the second quarter ended June 30, from C$1.74 billion, or 86 Canadian cents per share, a year earlier.

$1 = 1.3355 Canadian dollars Reporting by Shanti S Nair in Bengaluru; Editing by Devika Syamnath

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