January 29, 2020 / 1:11 PM / 6 months ago

Canadian Pacific Railway posts 22% rise in profit

Jan 29 (Reuters) - Canadian Pacific Railway, the country’s second largest railroad operator, reported a 21.8% rise in quarterly profit on Wednesday, benefiting from higher shipping volumes.

The company said net income rose to C$664 million ($505 million), or C$4.82 per share, in the fourth quarter ended Dec. 31, from C$545 million, or C$3.83 per share, a year earlier.

Revenue rose to C$2.07 billion from C$2 billion. ($1 = 1.3142 Canadian dollars) (Reporting by Sanjana Shivdas in Bengaluru; Editing by Arun Koyyur)

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