Encana operating profit falls on hedging losses

Tue Apr 23, 2013 6:19am EDT

(Reuters) - EnCana Corp (ECA.TO), Canada's No.1 natural gas producer, reported a 25 percent fall in first-quarter operating profit due to hedging losses.

Encana's net operating income, which excludes most one-time items, fell to $179 million, or 24 cents per share, from $240 million, or 33 cents per share, a year earlier.

The company reported a first-quarter net loss of $431 million, compared with a profit of $12 million a year earlier.

(Reporting by Scott Haggett in Calgary and Bhaswati Mukhopadhyay in Bangalore; Editing by Supriya Kurane)

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