April 27, 2017 / 10:45 AM / a year ago

Crescent Point Energy posts quarterly profit vs. year-ago loss

April 27 (Reuters) - Canada’s Crescent Point Energy Corp on Thursday reported a quarterly profit, compared with a year-ago loss, helped by higher realized prices for oil.

The Calgary-based company reported a net profit of C$119.4 million ($88 million), or 22 Canadian cents per share, in the first quarter ended March 31, compared with a loss of C$87.5 million, or 17 Canadian cents per share, a year earlier.

Crescent Point’s average selling price was C$51.70 per barrel of oil equivalent, compared with C$31.29 a year ago.

$1 =C$1.36 Reporting by Ahmed Farhatha in Bengaluru; Editing by Maju Samuel

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