February 14, 2012 / 1:48 PM / 6 years ago

TransCanada 4th-qtr profit jumps on higher power prices

Feb 14 (Reuters) - TransCanada Corp, Canada’s No.1 pipeline company and the backer of the controversial $7 billion Keystone XL pipeline project, said its fourth-quarter profit rose about 39 percent, helped in part by higher power prices in Alberta.

The company said net income attributable to common shares was C$375 million ($375.09 million), or 53 Canadian cents a share, compared with C$269 million, or 39 Canadian cents a share, a year ago.

TransCanada said revenue rose about 15 percent to C$2.36 billion. ($1 = 0.9998 Canadian dollars) (Reporting by Scott Haggett in Calgary and Shounak Dasgupta in Bangalore; Editing by Sriraj Kalluvila)

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