March 2 (Bloomberg) --TransAlta Corp. (TA), Canada’s largest publicly traded electricity producer, fell the most in more than a month after reporting a 74 percent decline in fourth-quarter profit.
TransAlta fell 1.5 percent to C$20.49 at the close in Toronto, the lowest since Jan. 19.
Net income fell to C$24 million ($24.3 million), or 11 cents a share, from C$92 million, or 42 cents a share, in the year-earlier period, Calgary-based TransAlta said in a statement today.
Excluding a loss related to MF Global Holdings Ltd.’s bankruptcy and other one-time items, profit was 11 cents below the average of 9 analysts’ estimates compiled by Bloomberg.
TransAlta, Canada’s largest wind-power operator, is preparing to phase out coal-burning plants in the coming decades.
To contact the reporter on this story: Jeremy van Loon in Calgary at email@example.com
To contact the editor responsible for this story: Susan Warren at firstname.lastname@example.org