August 13, 2019 / 10:06 AM / 8 days ago

Brazil's state-run Eletrobras Q2 profit soars on sale of subsidiary

SAO PAULO, Aug 13 (Reuters) - Brazil’s state-controlled power company Centrais Eletricas Brasileiras SA said on Tuesday its second-quarter net income soared 305% compared with the same period a year ago, helped by the sale of its subsidiary Amazonas Energia.

Eletrobras, as the company is known, reported in a securities filing a quarterly net income of 5.561 billion reais ($1.40 billion), roughly in line with analysts’ estimates of 5.46 billion reais, Refinitiv data showed.

$1 = 3.9848 reais Reporting by Gabriela Mello; editing by Jason Neely

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