Estácio Participações SA said its normalized net income for the second quarter was 25 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 33 centavos per share.

EPS rose 25.1% year over year from 20 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 79.1 million reais, a gain of 31.7% from 60.1 million reais in the prior-year period.

The normalized profit margin dropped to 9.8% from 10.2% in the year-earlier period.

Total revenue increased 31.4% on an annual basis to 774.3 million reais from 589.1 million reais, and total operating expenses rose 28.6% on an annual basis to 640.0 million reais from 497.8 million reais.

Reported net income increased 57.4% from the prior-year period to 132.5 million reais, or 42 centavos per share, from 84.2 million reais, or 28 centavos per share.

As of Aug. 6, US$1 was equivalent to 3.54 reais.