SAO PAULO Aug 7 Eletropaulo Metropolitana
Eletricidade de São Paulo SA, Brazil's largest power
distributor, reported a second-quarter profit more than double
what analysts had expected on Wednesday.
The Sao Paulo-based company posted earnings of 245.3 million
reais ($106 million) in the April-June period, up from 43.4
million reais in the same quarter a year earlier, according to a
Eletropaulo posted a first-quarter loss this year due to a
surge in thermal power costs after the government ordered
generators to switch on thermal plants to protect dwindling
reservoirs at hydropower plants.
Four analysts polled by Thomson Reuters had predicted an
average profit of 158.2 million reais for the second quarter.
Earnings before interest, tax, depreciation and
amortization, a widely used gauge of operational profitability
known as EBITDA, was 509.7 million reais, compared with 223.4
million reais in the year-ago period.
Analysts polled had expected EBITDA of 369.4 million reais.