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Nov 1 (Reuters) - Keystone pipeline operator TC Energy reported a 20% fall in third-quarter profit on Friday, weighed down partly by after-tax losses related to the sale of certain assets.
The company said the losses included C$133 million from the Ontario natural gas-fired power plants' sale and C$133 million from certain Columbia Midstream assets sold in August.
TC Energy, formerly TransCanada, has been investing heavily in the disputed 830,000 barrel per day (bpd) Keystone XL pipeline, which though expected to boost export volumes from the oil marketing hub of Alberta to U.S. refineries, faces opposition from environmentalists, tribal groups and ranchers.
Separately, on Friday TC Energy also said it will invest about C$1.2 billion to expand its subsidiary NOVA Gas Transmission Ltd (NGTL) and Foothills Systems to connect to the GTN XPress Project announced by its limited partnership TC PipeLines LP.
The Calgary-based company's net income attributable to shareholders fell to C$739 million, or 79 Canadian cents per share, in the quarter ended Sept. 30, compared with C$928 million, or C$1.02 per share, a year earlier.
Revenue fell marginally to C$3.13 billion.
(Reporting by Shradha Singh in Bengaluru; Editing by Shinjini Ganguli)