Company News

CORRECTED- Enbridge quarterly profit rises 16.5 percent

(Corrects to remove reference to profit doubling in headline and first paragraph)

Aug 3 (Reuters) - Pipeline operator Enbridge Inc’s quarterly profit rose 16.5 percent, driven by tight leash on costs and strong growth in its oil transportation business.

The Canadian company said on Friday that net income attributable to common shareholders rose to C$1.07 billion ($822.4 million), or 63 Canadian cents per share, in the second quarter ended June 30, from C$919 million, or 56 Canadian cents per share.

Enbridge said it transported 2.64 million barrels per day (bpd) of crude oil on its Mainline system across Canada and the United States during the quarter, up from 2.45 million bpd in the year-ago quarter. ($1 = 1.30 Canadian dollars) (Reporting by Laharee Chatterjee in Bengaluru; Editing by Sriraj Kalluvila)