Brazil's Cosan reports Q1 profit of $115.9 million
RIO DE JANEIRO May 13 (Reuters) - Cosan SA Industria e Comercio CSAN3.SA, Brazil's biggest sugar and ethanol producer, posted a first-quarter profit of 256.1 million reais ($115.9 million), according to a securities filing late Tuesday.
The figure, boosted by sales at its Raizen fuels unit and earnings from financial operations, was more than nine times greater than a profit of 27.1 million reais during the first quarter of 2013.
Sales at the Raizen fuels unit, the company said, climbed to 13 billion reais, an 18.9 percent increase from a year earlier, largely because of greater sales volumes.
Earnings before interest, taxes, depreciation and amortization, a closely watched measure of underlying profit known as EBITDA, climbed to 1.026 billion reais, a 12.6 percent increase from a year ago. (Reporting by Luciana Bruno; Editing by Eric Walsh)
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