May 13, 2010 / 3:18 PM / in 8 years

UPDATE 1-Gaz Metro Q2 profit misses estimates

* Revenue down 14 pct

May 13 (Reuters) - Canadian natural gas distributor Gaz Metro L.P GZM_u.TO reported quarterly earnings that missed market estimates on lower volumes in residential markets.

For the second quarter, net income was C$103.9 million ($102.1 million), or 86 Canadian cents a share, compared with C$119 million, or 98 Canadian cents a share, in the year-ago quarter.

Analysts on average were expecting earnings of 90 Canadian cents a share, before special items, according to Thomson Reuters I/B/E/S.

Total revenue for the quarter fell 14 percent to C$739.6 million.

Shares of the company were down 4 Canadian cents at C$16.04 Thursday morning on the Toronto Stock Exchange. ($1=1.018 Canadian Dollar) (Reporting by R. Manikandan in Bangalore; Editing by Unnikrishnan Nair)

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