May 5, 2017 / 11:43 AM / 5 months ago

TransCanada's quarterly profit more than doubles

May 5 (Reuters) - TransCanada Corp’s quarterly profit more than doubled, as Canada’s No. 2 pipeline operator incurred lower charges.

The company’s net profit attributable to shareholders rose to C$643 million ($467 million), or 74 Canadian cents per share, in the first quarter ended March 31 from C$252 million, or 36 Canadian cents per share, a year earlier.

The latest quarter included about C$48 million in charges, mainly related to the acquisition of Columbia Pipeline Group. The year-ago quarter included charges of about C$211 million, mainly related to the termination of Alberta power purchase agreements.

Revenue rose 35.5 percent to C$3.39 billion. ($1 = 1.3775 Canadian dollars) (Reporting by Arathy S Nair in Bengaluru; Editing by Supriya Kurane)

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