CP Rail quarterly profit dips 9 percent as expenses weigh
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July 18 (Reuters) - Canadian Pacific Railway Ltd reported a 9 percent fall in quarterly profit on Wednesday as Canada's No.2 railroad operator was hit by a rise in fuel costs increasing overall expenses.
CP's net income fell to C$436 million ($331.08 million), or C$3.04 per share, in the second quarter ended June 30, from C$480 million, or C$3.27 per share, a year earlier.
The Calgary-based company's revenue rose to C$1.75 billion from C$1.64 billion. ($1 = C$1.32) (Reporting by Anirban Paul in Bengaluru; Editing by Shounak Dasgupta)
