Brazil watch: Taesa income surge, Equatorial distribution boost, CPFL loss
Brazilian transmission firm Taesa has reported an 81% year-on-year increase in first quarter net income to 202mn reais (US$68mn).
The negative impact of inflation was more than offset by higher revenue and gains made by improved operating efficiency, the company said in an earnings statement.
Taesa has stakes in 28 concessions across Brazil totaling 9,884km of transmission lines.
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Brazilian power holding company Equatorial Energia posted a Q1 profit of 85mn reais (US$28mn), up from 14mn reais a year earlier.
The firm said the result was boosted by a strong performance from its core distribution segment.
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Higher debt service costs saw CPFL Renováveis record a Q1 loss of 65mn reais, the São Paulo-based company said.
The negative result came despite a 26% jump in operating revenue to 364mn reais and Ebitda of 178mn reais, up from 119mn reais a year earlier.
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