February 28, 2011 / 12:40 PM / 7 years ago

UPDATE 1-Vermilion Energy Q4 profit falls

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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)

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