BrasilAgro - Companhia Brasileira de Propriedades Agrícolas said its normalized net income for the fiscal first quarter ended Sept. 30 came to a loss of 5 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of a loss of 24 centavos per share.
The per-share loss decreased 37.8% year over year from 9 centavos.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 3.2 million reais, compared with a loss of 5.1 million reais in the prior-year period.
The normalized profit margin rose to negative 5.8% from negative 13.0% in the year-earlier period.
Total revenue rose 29.2% year over year to 50.7 million reais from 39.2 million reais, and total operating expenses increased 22.8% year over year to 57.4 million reais from 46.7 million reais.
Reported net income came to 1.8 million reais, or 3 centavos per share, compared to a loss of 2.9 million reais, or a loss of 5 centavos per share, in the prior-year period.
As of Nov. 21, US$1 was equivalent to 2.52 reais.
