August 5, 2010 / 4:27 PM / 7 years ago

UPDATE 1-Inter Pipeline Fund Q2 profit up 73 pct

* Q2 EPS C$0.27 vs C$0.18 yr ago

* Q2 FFO C$0.34/unit vs C$0.30/unit yr ago

* Oil sands transportation revenue up 19 pct

* NGL extraction revenue up 46 pct

Aug 5 (Reuters) - Canada’s Inter Pipeline Fund IPL_u.TO posted a 73 percent rise in quarterly profit, helped by a better performance at its natural gas liquids extraction business.

For the second quarter, the petroleum transportation provider reported net income of C$67.9 million, or 27 Canadian cents per unit, compared with C$39.3 million, or 18 Canadian cents per unit, a year earlier.

Analysts on average were expecting earnings of 20 Canadian cents, according to Thomson Reuters I/B/E/S.

The company said its oil sands transportation revenue rose 19 percent to C$36.4 million and natural gas liquids extraction revenue grew 46 percent to C$143.4 million.

The company’s quarterly funds from operations stood at C$88.3 million, or 34 Canadian cents per unit, up from C$68.5 million, or 30 Canadian cents per unit, a year ago.

Throughput on Inter Pipeline’s oil sands and conventional oil pipelines averaged 735,500 barrels per day during the quarter.

Units of the Calgary, Alberta-based fund were up 14 Canadian cents, at C$12.94 Thursday morning on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Vyas Mohan)

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