BRAZIL: Raízen Energia's profit increases 20.3% in the 3rd quarter of the season
Published: 02/16/2017, 4:19:37 PM
Brazil's Raízen Energia reported a 20.3% increase in its net profit for the third quarter of the season, in comparison with the same time in the prior crop year, to BRL557.8 million (US$183.07 million), reports Sugaronline.
The company's net revenue totaled BRL3.5 billion (US$1.14 billion), down 6.5% from the same period last year.
Net revenues from sugar sales decreased 13% in the third quarter of the season, to BRL1.4 billion (US$460 million), due to lower volumes sold in the period. Ethanol sales totaled BRL1.9 billion (US$620 million), up 1% from the same time in the 2015/16 season.
Raízen crushed 59.4 million tonnes of sugarcane during the 2016/17 season, down 0.9% from the prior season due to drier weather affecting productivity (79.6 tonnes per hectare).