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SABESP Q1 Profit Jumps 169%

Companhia de Saneamento Basico do Estado de Sao Paulo (SBS: Quote) reported net income for the first quarter of R$491.9 million or R$2.16 per share, compared to R$182.8 million or $0.80 per share for the year-ago quarter.

Net operating revenue for the first quarter rose 12.3% to R$ 2.6 billion from R$2.3 billion in the same quarter last year.

Costs and expenses, including construction costs, for the quarter grew 0.4% to R$ 1.9 billion.

EBIT for the first quarter surged 64.6% to R$ 701.7 million from R$ 426.2 million a year ago, while EBITDA increased 35.7% to R$ 888.2 million from R$ 654.3 million last year.

by RTT Staff Writer

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