October 17, 2018 / 8:26 PM / a month ago

Kinder Morgan Canada's profit surges on TransMountain sale

Oct 17 (Reuters) - Kinder Morgan Canada Ltd’s third-quarter profit surged as it recorded a one-time gain of C$1.31 billion from the sale of its TransMountain pipeline.

The pipeline operator said on Wednesday net income rose to C$1.35 billion in the three months ended Sept. 30, from C$42.4 million, a year earlier.

On a per-share basis, net income from continuing operations rose to 5 Canadian cents from 2 Canadian cents.

$1 = 1.3008 Canadian dollars Reporting by Debroop Roy in Bengaluru

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