July 24, 2019 / 10:56 PM / a month ago

Suncor Energy quarterly profit triples on tax gain

July 24 (Reuters) - Suncor Energy Inc, Canada’s second-largest oil and gas producer, said on Wednesday its profit nearly tripled in the second quarter due to a deferred income tax gain of C$1.12 billion ($852.49 million).

Net profit rose to C$2.7 billion, or C$1.74 per share, in the three months ended June 30, from C$972 million, or 60 Canadian cents per share, a year earlier.

Suncor’s total production rose to 803,900 barrels of oil equivalent per day (boepd), from 661,770 (boepd) in the second quarter of 2018.

$1 = 1.3138 Canadian dollars Reporting by Nia Williams in Calgary and Taru Jain and Shubham Kalia in Bangalore; Editing by Bernard Orr

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