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Cosan Ltd. Q2 earnings reverse prior-year loss

Cosan Ltd. reported a second-quarter net income of 22.7 million Brazilian reais, up from a net loss of 44.8 million reais reported during the same period in 2017.

Net revenue for the quarter was pegged at 4.07 billion reais, up 21% from the 3.37 billion reais noted during the corresponding period in 2017. Gross profit for the quarter was down 0.4% at 1.16 billion reais reported compared to 1.17 billion reais posted during the same period in 2017.

CapEx for the quarter increased by 18.2% at 698.8 million reais compared to the 591.4 million reais during the same quarter in 2017.

As of Aug. 9, US$1 was equivalent to 3.80 Brazilian reais.