July 25, 2018 / 9:52 PM / 4 months ago

Brazil's Vale posts rise in second-quarter profit

RIO DE JANEIRO, July 25 (Reuters) - Brazil’s Vale SA , the world’s largest iron ore producer, posted a rise in second-quarter net income, results showed on Wednesday.

The miner said profit in the second quarter rose to 306 million reais ($82.96 million) from 60 million reais in the same period a year earlier. However, the figure was well below the 5.112 billion reais in profit notched in the first three months of 2018.

Revenue reached 31.234 billion reais in the period, above the 23.363 billion reais notched in the second quarter of 2017. ($1 = 3.6884 reais) (Reporting by Alexandra Alper; editing by Diane Craft)

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