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Brasil Pharma Q3 loss narrows YOY

Brasil Pharma SA said its normalized net income for the third quarter was a loss of 5.26 reais per share, compared with a loss of 7.65 reais 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 38.2 million reais, compared with a loss of 55.6 million reais in the year-earlier period.

The normalized profit margin climbed to negative 4.8% from negative 6.1% in the year-earlier period.

Total revenue fell year over year to 878.6 million reais from 907.2 million reais, and total operating expenses declined 8.3% on an annual basis to 881.8 million reais from 961.3 million reais.

Reported net income totaled a loss of 67.6 million reais, or a loss of 9.31 reais per share, compared to a loss of 92.5 million reais, or a loss of 12.73 reais per share, in the prior-year period.

As of Nov. 12, US$1 was equivalent to 3.79 reais.