Valener Inc. on May 10 posted adjusted net income attributable to common shareholders of C$33.9 million, or 87 Canadian cents per share, for the second quarter of its fiscal 2018, an increase from C$32.9 million, or 85 cents per share, a year earlier.
Énergir LP contributed adjusted net income attributable to partners of C$150 million, compared to C$142.5 million in the same quarter of fiscal 2017. The increase was primarily driven by the favorable impact of a regulatory timing difference in the Québec Energy Distribution segment combined with a strong Québec economy in the second quarter of fiscal 2018.
Normalized operating cash flows rose to C$14 million, or 36 cents per common share, compared to C$11.3 million, or 29 cents per share, a year earlier.
Valener is the public investment vehicle in Énergir. Gaz Métro announced its new identity as Énergir on Nov. 29, 2017.