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Raia Drogasil Q2 profit climbs 73.5% YOY

Raia Drogasil SA said its second-quarter normalized net income amounted to 28 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 30 centavos per share.

EPS rose 73.8% year over year from 16 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 91.8 million reais, an increase of 73.5% from 52.9 million reais in the prior-year period.

The normalized profit margin rose to 4.2% from 3.0% in the year-earlier period.

Total revenue climbed 22.8% year over year to 2.19 billion reais from 1.78 billion reais, and total operating expenses grew 20.1% from the prior-year period to 2.03 billion reais from 1.69 billion reais.

Reported net income rose 74.2% year over year to 108.2 million reais, or 33 centavos per share, from 62.1 million reais, or 19 centavos per share.

As of July 30, US$1 was equivalent to 3.37 reais.