February 24, 2011 / 2:02 PM / 7 years ago

CORRECTED-UPDATE 1-AltaGas posts lower Q4 profit

(Corrects company name to AltaGas Ltd from AltaGas Income Trust in paragraphs 1 and 3) (Adds details)

Feb 24 (Reuters) - Canada’s AltaGas Ltd posted a 17 percent drop in quarterly profit, hurt in part by weaker realized power prices in Alberta and lower volumes at some processing facilities.

AltaGas, which is involved in natural gas extraction and transmission, energy services and power generation, said net income applicable to common shares was C$26.5 million, or 32 Canadian cents a share, compared with income of C$32.1 million, or 40 Canadian cents a share, a year ago.

The Calgary, Alberta-based company said adjusted earnings came in at 38 Canadian cents a share.

Revenue rose 8 percent to C$362.2 million. (Reporting by Arnika Thakur in Bangalore; Editing by Saumyadeb Chakrabarty)

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