Ideiasnet back in Q2 black

Thursday, August 18, 2011

Brazilian IT and internet holding company Ideiasnet turned a profit of 1.4mn reais (US$872,223) in 2Q11, versus a 13.5mn-real net loss in 2Q10, the company announced.

Net revenues for the quarter reached 298mn reais, up 21.1% year-on-year, while Ebitda surged 178% to 12mn reais.

The holding's investments totaled 10.4mn reais during the quarter.

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Ideiasnet is a publicly held venture capital company with investments focused on companies in technology, media and telecommunications sectors in Brazil and the rest of Latin America.

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