August 2, 2012 / 11:23 AM / in 5 years

Enbridge net profit falls on derivative losses

Aug 2 (Reuters) - Canadian pipeline operator Enbridge Inc reported a sharp fall in second-quarter profit due to losses on financial derivatives.

Net income attributable to common shareholders fell to C$$11 million, or 1 Canadian cent per share, from C$302 million, or 40 Canadian cents per share, a year earlier.

On an adjusted basis, profit rose to C$277 million, or 36 Canadian cents per share, from C$258 million, or 34 Canadian cents per share, in the year-ago period.

Canada’s No.2 pipeline company is waiting for permission from the United States to restart a key pipeline following an oil spill last week.

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