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Paranapanema reverses loss with US$28.6mn Jan-Sep. profit

Bnamericas
Brazilian power generator Duke Paranapanema announced on Wednesday that it made an 81mn-real (US$28.6mn) net profit for the first nine months of the year, turning round a 91.9mn-real loss in the same period in 2003. Net revenue climbed 51.1% over the period to 1.83bn reais and gross profit rose 252% to 318mn reais. Nine-month operating costs rose 147% to 127mn reais and net financial costs over the period came in at 89.7mn reais, against a 41.5mn-real revenue in the same period last year. Operating profit rose 391% to 191mn reais. On September 30, 2004 the company's net equity stood at 16.4mn reais.

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