August 9, 2017 / 10:28 PM / a year ago

UPDATE 1-Brazil's Cosan reports quarterly loss of 76 mln reais

(Adds details from Cosan on factors that affected results)

SAO PAULO, Aug 9 (Reuters) - Brazil’s Cosan SA Indústria e Comércio reported on Wednesday a net loss of 76 million reais ($24 million) in the second quarter, compared to a profit of 279 million reais a year earlier, partially due to a slow start to the cane harvest.

The Brazilian sugar, energy and logistics company said earnings before interest, tax, depreciation and amortization, a common gauge of profitability known as EBITDA, reached 804.3 million reais, 35 percent below similar period last year.

Cosan, which partners Royal Dutch Shell Plc in the 50-50 joint venture Raízen, said above-average rains in the second quarter led to a cane crush fall of 14 percent in the period to 19.2 million tonnes.

The company also said that price cuts made by state-controlled oil firm Petrobras hit the value of its stocks of those fuels in the quarter.

Cosan said it is seeing signs of an economic recovery. Its natural gas subsidiary Comgás saw larger sales in the quarter for both industries and residencies.

$1 = 3.15 reais Reporting by Marcelo Teixeira; Editing by Chris Reese and James Dalgleish

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