August 12, 2009 / 9:01 PM / 9 years ago

UPDATE 1- Pinetree Capital Q2 profit soars

* EPS C$0.34 vs. C$0.04 a year ago

* Net investment gains of C$58.5 mln

Aug 12 (Reuters) - Pinetree Capital Ltd (PNP.TO), a Toronto-based diversified investment and merchant banking firm, reported a 10-fold jump in second-quarter earnings, driven primarily by gains from investments.

Net income was C$44.6 million ($41.03 million), or 34 Canadian cents a share, compared with C$4.8 million, or 4 Canadian cents a share, a year earlier.

Net investment gains for the quarter were C$58.5 million.

Net asset value per share increased to C$1.91 as at June 30, from C$1.33 as at Dec. 31, the company said in a statement.

Shares of the company closed at C$1.54 on the Toronto Stock Exchange.

$1=1.087 Canadian dollar Reporting by Amit Kumar in Bangalore; Editing by Anil D'Silva

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