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Company News

TC Energy's comparable profit falls 6% as COVID-19 slashes energy demand

July 30 (Reuters) - TC Energy Corp reported a 6% fall in second-quarter comparable profit on Thursday, as the coronavirus pandemic crushed energy demand and hurt pipeline transportation volumes.

The Keystone pipeline operator’s comparable earnings fell to C$863 million ($643.31 million), or 92 Canadian cents per share, in the second quarter ended June 30, from C$924 million, or C$1.00 per share, a year earlier.

Net income attributable to common shares rose to $1.3 billion, or $1.36 per share, including a gain of $408 million partly related to the sale of a 65% stake in the Coastal GasLink pipeline.

$1 = 1.3415 Canadian dollars Reporting by Arathy S Nair in Bengaluru; Editing by Shounak Dasgupta

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