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Company News

TransCanada quarterly profit jumps 52 pct

Nov 1 (Reuters) - Canadian pipeline operator TransCanada Corp reported a 52 percent rise in quarterly profit on Thursday, helped by higher interest income.

The company said it expects the Nebraska Supreme Court to reach a decision on Keystone XL pipeline by the first quarter of 2019.

The Calgary, Alberta-based company’s net income rose to C$928 million ($708.18 million), or C$1.02 per share, in the third quarter ended Sept. 30, from C$612 million, or 70 Canadian cents per share, a year earlier.

Revenue fell marginally to C$3.16 billion. ($1 = 1.3104 Canadian dollars) (Reporting by John Benny in Bengaluru)

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