Kinder Morgan Posts Lower Profit amid Oil Price Slump

U.S. pipeline operator Kinder Morgan Inc reported a lower first-quarter profit, hurt by a prolonged slump in crude oil prices.

 

Net income available to shareholders fell to $276 million, or 12 cents per share, in the quarter ended March 31, from $429 million, or 20 cents per share, a year earlier.

 

The Houston-based company's revenue fell 11.2 percent to $3.195 billion.


(Reporting by Manish Parashar in Bengaluru; Editing by Savio D'Souza)