May 10, 2018 / 11:12 AM / a year ago

Pipeline operator Enbridge's first-quarter profit dips 30 percent

May 10 (Reuters) - Enbridge Inc’s first-quarter profit fell 30 percent as Canada’s biggest pipeline operator incurred higher costs for debt-servicing and income taxes.

The Calgary-based company said net income attributable to shareholders fell to C$445 million or 26 Canadian cents per share in the three months ended March 31, from C$638 million or 54 Canadian cents per share a year earlier.

Enbridge said it moved 2.63 million barrels per day (bpd) of crude oil on its Mainline system across Canada and the United States during the quarter, up from 2.59 million bpd in the same quarter of last year. (Reporting by Anirban Paul in Bengaluru)

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