Canadian Tire reports fall in quarterly profit

(Reuters) - Retailer Canadian Tire Corp Ltd reported a near 20% fall in quarterly profit on Thursday, as inflation-weary consumers cut back on high-margin discretionary purchases such as sport equipment and auto parts.

The company's net income fell to C$225 million ($165.83 million) in the third quarter ended Oct. 1, from C$279.5 million, a year earlier.

($1 = 1.3568 Canadian dollars)

(Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Shinjini Ganguli)