April 20, 2012 / 11:49 AM / 6 years ago

Canadian Pacific Railway quarterly profit jumps

TORONTO, April 20 Reuters) - Canadian Pacific Railway Ltd , which is fighting a proxy battle with its biggest shareholder, said on Friday that first-quarter profits more than quadrupled and that a key efficiency measure strengthened.

Canada’s second-biggest railway reported net income of C$142 million, or 82 Canadian cents a share. That compares with a profit of C$34 million, or 20 Canadian cents, in the same period of 2011.

Operating ratio, which measures operating costs as a percentage of revenue, improved to 80.1 percent from 90.6 percent in the year-earlier period. The lower the number, the more efficient the operation.

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