November 10, 2017 / 10:18 PM / 2 years ago

Brazil's Cosan third-quarter profit jumps 53 percent

SAO PAULO (Reuters) - Brazil’s energy and infrastructure company Cosan SA Industria e Comércio reported a net profit of 499.7 million reais ($152.45 million) in the third quarter, 53 percent more than a year earlier, according to a securities filing on Friday.

Cosan (CSAN3.SA), which partners with Royal Dutch Shell Plc (RDSa.L) in the joint venture Raízen, the world’s largest sugar producer, noted signs of sales recovery in its businesses as Brazil leaves its worst recession on record.

“There were increases in the sale of fuels, lubricants and natural gas in the period”, the company said in the report.

Raízen is Brazil’s second-largest fuel distributor, and also a large ethanol maker. Cosan also controls Companhia de Gás de São Paulo Comgas (CGAS5.SA), Brazil’s largest natural gas distributor.

Cosan reported earnings before taxes, interest, depreciation and amortization (EBITDA) of 1.43 billion reais in the quarter, stable from last year.

Reporting by Marcelo Teixeira; Editing by Lisa Shumaker

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