Minupar Participações S/A said its second-quarter normalized net income amounted to a loss of 46 Brazilian centavos per share, compared with a loss of 18 centavos per share in the prior-year period.

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 1.3 million reais in the prior-year period.

The normalized profit margin increased to negative 1.1% from negative 2.6% in the year-earlier period.

Total revenue declined year over year to 49.1 million reais from 49.7 million reais, and total operating expenses rose year over year to 45.0 million reais from 44.2 million reais.

Reported net income came to a loss of 5.2 million reais, or a loss of 73 centavos per share, compared to a loss of 2.1 million reais, or a loss of 29 centavos per share, in the year-earlier period.

As of Aug. 12, US$1 was equivalent to 3.16 reais.