Brazilian water and wastewater firmAegea Saneamento e Participações saw its Q1 net profit rise 28% to 66.4mn reais (US$16.8mn) from 51.9mn reais in the year-ago period.
Net revenue inreased 51% to 518mn reais, while operating costs and expenses rose 34.7% to 234mn reais, the company told the securities regulator.
Aegea invested 671mn reais in the 12 months ended March, up from 571mn reais in the previous 12 months. Net debt ended the quarter at 3.01bn reais, up from 2.16bn reais a year earlier.
The São Paulo-based company operates in 11 states. It was founded in 2010 and serves nearly 9mn people.