May 3, 2017 / 10:39 AM / 4 months ago

Canada's Loblaw posts 19 pct rise in profit

May 3 (Reuters) - Canadian grocery and pharmacy retailer Loblaw Cos Ltd reported a 19.2 percent rise in quarterly profit, helped by lower expenses and as discounting attracted more customers to its stores.

Net earnings available to common shareholders rose to C$230 million ($168 million), or 57 Canadian cents per share, in the first quarter ended March 25, from C$193 million, or 47 Canadian cents per share, a year earlier.

The latest quarter also included a gain of C$11 million, or 2 Canadian cents per share.

Revenue rose marginally to C$10.40 billion from C$10.38 billion last year.

$1 = 1.3730 Canadian dollars Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty

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