BrasilAgro - Companhia Brasileira de Propriedades Agrícolas said its normalized net income for the fiscal third quarter ended March 31 amounted to 9 Brazilian centavos per share, compared with a loss of 16 centavos per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.3 million reais, compared with a loss of 9.5 million reais in the prior-year period.
The normalized profit margin climbed to 24.5% from negative 33.8% in the year-earlier period.
Total revenue decreased 22.6% on an annual basis to 21.7 million reais from 28.1 million reais, and total operating expenses decreased 36.6% on an annual basis to 24.6 million reais from 38.8 million reais.
Reported net income totaled 16.1 million reais, or 28 centavos per share, compared to a loss of 2.4 million reais, or a loss of 4 centavos per share, in the prior-year period.
As of May 8, US$1 was equivalent to 2.99 reais.
