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Sí£o Paulo Turismo Q3 profit climbs YOY

São Paulo Turismo SA said its normalized net income for the third quarter came to 1.79 reais per share, a gain from 11 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 9.3 million reais, a gain from 576,880 reais in the prior-year period.

The normalized profit margin increased to 15.8% from 1.4% in the year-earlier period.

Total revenue grew 41.8% on an annual basis to 58.9 million reais from 41.5 million reais, and total operating expenses grew 5.9% from the prior-year period to 41.8 million reais from 39.4 million reais.

Reported net income came to 14.9 million reais, or 2.87 reais per share, compared to a loss of 149,000 reais, or a loss of 3 centavos per share, in the prior-year period.

As of Nov. 11, US$1 was equivalent to 3.49 reais.