Feb 28 (Reuters) - Oil and gas company Vermilion Energy Inc’s fourth-quarter profit fell 87 percent hurt in part by higher expenses.
For October-December, the Calgary, Alberta-based Vermilion earned C$15.8 million, or 18 Canadian cents a share, down from earnings of C$122.9 million, or C$1.59 a share, a year ago.
Petroleum and natural gas revenue for the quarter rose 20 percent to C$216.4 million. While production averaged 35,302 barrels of oil equivalent (boe/d), up from 30,016 boe/d, last year.
Analysts on average were expecting earnings of 32 Canadian cents on revenue of C$180.9 million, according to Thomson Reuters I/B/E/S.
Expenses for the quarter grew 7 percent to C$39.6 million.
The company’s shares closed at C$51.13 on Friday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore)