DCP Midstream Partners, LP (DPM) has reported 69.01 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $120 million, or $0.78 a share in the quarter, compared with $71 million, or $0.35 a share for the same period last year.

Revenue during the quarter dropped 20 percent to $372 million from $465 million in the previous year period. Total expenses were 76.88 percent of quarterly revenues, down from 90.75 percent for the same period last year. This has led to an improvement of 1387 basis points in operating margin to 23.12 percent.

Operating income for the quarter was $86 million, compared with $43 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $132 million compared with $167 million in the prior year period. At the same time, adjusted EBITDA margin contracted 43 basis points in the quarter to 35.48 percent from 35.91 percent in the last year period.

"This quarter, the partnership delivered significant operating cost savings and growth in fee based assets, which more than offset anticipated volume declines. Our unwavering DCP 2020 strategy execution and operational excellence focus are substantiated by our strong safety and reliability results, lower costs, and increased fee based earnings. Looking forward to 2017, we will continue to have a steadfast focus on creating value for our unitholders, customers and employees, " said Wouter van Kempen, chairman, chief executive officer and president of the Partnership, and of DCP Midstream, the owner of the Partnership's general partner.