* Q1 rev at C$20 mln
May 7 (Reuters) - Gold miner Richmont Mines Inc’s RIC.TO quarterly profit rose 29 percent on the back of higher realized gold prices.
For the first quarter, the company reported net income of C$1.8 million ($1.7 million), or 7 Canadian cents a share, compared with C$1.4 million, or 5 Canadian cents a share, a year ago.
Revenue rose marginally to C$20 million.
Analysts on average were expecting the company to earn 10 Canadian cents a share, according to Thomson Reuters I/B/E/S.
The company said it sold 15,841 ounces of gold at an average price of $1,105 an ounce, compared with gold sales of 16,614 ounces and an average realized sales price of $990 an ounce last year.
Shares of the company closed at C$4.70 Thursday on the Toronto Stock Exchange. ($1=1.052 Canadian Dollar) (Reporting by Aftab Ahmed in Bangalore; Editing by Unnikrishnan Nair) (email@example.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: firstname.lastname@example.org))