Company News

Canada's Enbridge posts over 5% rise in quarterly profit

Feb 14 (Reuters) - Enbridge Inc, Canada’s largest pipeline operator, reported a 5.3% rise in adjusted quarterly profit on Friday, driven by its liquids pipelines, which includes Mainline system, the region’s longest oil pipeline system.

The company reported adjusted earnings of C$1.23 billion ($929.00 million), or 61 Canadian cents per share, in the fourth quarter ended Dec. 31, compared with C$1.17 billion, or 65 Canadian cents per share, a year earlier.

The company transported 2.728 million barrels per day (bpd) of crude on its Mainline system, up from 2.685 million bpd. ($1 = 1.3240 Canadian dollars) (Reporting by Shanti S Nair in Bengaluru; Editing by Subhranshu Sahu)