Promising third-quarter numbers for Brazil's Sanepar
Sanepar, the water utility of Brazil's Paraná state, saw its net profit increase in 3Q17, due to rising revenues and reduction of debt service costs.
The company posted a net profit of 175mn reais (US$53.5mn) in the third quarter, up from 115mn reais one year ago.
Sanepar's operational revenue picked up 16.2% in the period to 1bn reais. The company said that this year's tariff increase of 8.53%, along with the expansion of water and sanitation services, contributed to the growth in revenues.
Meanwhile, debt service costs dropped to 48.9mn reais in the third quarter, down from 63.8mn reais a year ago. Debt service costs contracted amid the continued reduction of Brazil's benchmark Selic interest rate, as inflation remains under control.
Sanepar invested 193mn reais in its operations in the third quarter, 92.8mn reais in water and 72.5mn reais in sewer projects, and the rest went to, for example, the company's technological sector.
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News in: Water & Waste (Brazil)
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