November 3, 2016 / 10:17 AM / 10 months ago

Oil and gas producer Encana swings to net profit

Nov 3 (Reuters) - Canadian oil and gas producer Encana Corp swung to a quarterly net profit, compared with a year-earlier loss, when the company took an impairment charge of more than $1 billion.

The company posted a net profit of $317 million in the third quarter ended Sept. 30, compared with a loss of $1.24 billion, a year earlier.

Encana's operating profit, which excludes most one-time items, was $32 million, or 4 cents per share, compared with a loss of $24 million, or 3 cents per share. (Reporting by Swetha Gopinath in Bengaluru)

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