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Company News

Transcanada reports fourth-quarter profit

Feb 15 (Reuters) - Canadian pipeline operator TransCanada Corp on Thursday reported a quarterly profit compared with a year ago loss when it took about C$1 billion in charges.

The Calgary-based company’s net income attributable to shareholders was C$861 million ($689.08 million), or 98 Canadian cents per share, in the fourth quarter ended Dec. 31, compared with a loss of C$358 million, or 43 Canadian cents, a year ago.

Revenue fell to C$3.62 billion from C$3.64 billion.

The company separately also said it would invest C$2.4 billion for the expansion of its NGTL pipeline system. ($1 = 1.2495 Canadian dollars) (Reporting by Akshara P in Bengaluru)

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