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Earnings from its U.S. natural gas pipelines more than doubled,
helped by its acquisition of Columbia Pipeline Group Inc last
year for about $13 billion.
Profit from its Mexico natural gas pipelines also rose about 162
percent to C$118 million.
The company's net profit attributable to shareholders rose to
C$643 million ($467 million), or 74 Canadian cents per share, in
the first quarter ended March 31 from C$252 million, or 36
Canadian cents per share, a year earlier.
The latest quarter included about C$48 million in charges,
mainly related to the acquisition of Columbia Pipeline Group.
The year-ago quarter included charges of about C$211 million,
mainly related to the termination of Alberta power purchase
agreements.
Excluding items, the company earned 81 Canadian cents per share,
beating analysts' average estimate of 74 Canadian cents per
share, according to Thomson Reuters I/B/E/S.
Revenue rose 35.5 percent to C$3.39 billion, above analysts'
average estimate of C$3.19 billion.
TransCanada, the company behind the controversial Keystone XL
pipeline, said on Thursday it would sell stakes in two natural
gas pipelines for $765 million.
(Reporting by Arathy S Nair in Bengaluru; Editing by Supriya
Kurane)
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