March 9, 2010 / 9:45 PM / 8 years ago

UPDATE 1-Pinetree Capital posts Q4 profit

* Q4 EPS C$0.15 vs loss/shr C$0.71 yr ago

* Net investment gains C$37.7 mln

March 9 (Reuters) - Pinetree Capital Ltd (PNP.TO), a Toronto-based diversified investment and merchant banking firm, reported a quarterly profit, helped by gains from investments.

For the fourth quarter, net income was C$20.3 million, or 15 Canadian cents a share, compared with a net loss of C$93.6 million, or 71 Canadian cents a share, a year earlier

Net investment gains for the quarter were C$37.7 million.

    Net asset value per share increased to C$2.53 as at Dec. 31, 2009 from C$1.33 as at Dec. 31, 2008, the company said in a statement.

    Shares of the company closed at C$1.83 Tuesday on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Maju Samuel)

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