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BlackRock's profit surges on gain from new U.S tax laws

Jan 12 (Reuters) - BlackRock Inc, the world's biggest asset manager, posted a surge in fourth-quarter profit, helped by a $1.2 billion gain related to the enactment of the U.S. tax laws.

The New York-based company's net income rose to $2.3 billion, or $14.07 per share, in the quarter ended Dec. 31 from $851 million, or $5.13. per share, a year earlier.

Excluding the benefit from the new tax law, BlackRock earned $6.24 per share.

(Reporting by Diptendu Lahiri in Bengaluru; Editing by Savio D'Souza)