* Q3 oper profit C$0.58/shr, in line with estimates
* Net earnings C$0.37/shr vs C$0.52
TORONTO, Nov 12 (Reuters) - Power Corp of Canada (POW.TO), a Montreal-based holding company, said on Friday its third-quarter profit fell 29 percent after a C$96 million charge.
Power Corp, the 66 percent owner of Power Financial Corp (PWF.TO) — which in turn controls insurance company Great West Lifeco (GWO.TO) and mutual fund company IGM Financial (IGM.TO) — said net earnings for the quarter were C$178 million or C$0.37 per share. That compared with C$250 million or C$0.52 per share in the corresponding period of 2009.
The company, controlled by Montreal’s Desmarais family, said operating earnings were C$274 million or C$0.58 per share, compared with C$252 million or C$0.53 per share in the third quarter of 2009.
Analysts had expected operating earnings of 58 Canadian cents a share, according to Thomson Reuters I/B/E/S.
Power Corp shares were down 0.58 percent at C$27.59 in Toronto.
Earlier on Friday Power Financial Corp said its net profit fell 29 percent in the quarter after a litigation charge at its insurance subsidiary.
$1=$1.01 Canadian Reporting by Pav Jordan; editing by Rob Wilson