Brazil’s Cosan Q1 profit plunges

* EBITDA at 358 million reais, 15 pct above year-ago

(Adds details, EBITDA, background)

SAO PAULO, Aug 12 (BestGrowthStock) – Brazil’s Cosan (CZZ.N: ) >, the
world’s largest producer of cane sugar and ethanol, reported a
net profit of 8.7 million reais ($4.9 million) in the past
quarter, down sharply from 337.3 million reais posted a year
ago, as operating costs jumped.

Net operating revenue rose to 4 billion reais from 3.57
billion reais.

But the company (CSAN3.SA: ) saw a loss on foreign exchange
versus a gain, taking a chunk out of profits.

The takeover of NovAmerica last year helped increase sugar
and ethanol volumes and boost the company’s revenue.

Earnings before interest, taxes, depreciation and
amortization, a key measure of cash flow known as EBITDA, rose
to 358 million reais from 311.2 million reais.

Cosan’s earnings report is for the first quarter of its
fiscal year, which starts on April 1 and ends on March 31,
following the sugar cane harvesting cycle in Brazil’s
center-south region.
($1=1.772 reais)
(Writing by Reese Ewing; Editing by Anshuman Daga)

Brazil’s Cosan Q1 profit plunges