(Adds details of the earnings report)
SAO PAULO, Nov 5 (Reuters) - Brazilian fuel distributor
Vibra said on Tuesday its net profit more than
tripled in the third quarter from a year earlier, to 4.2 billion
reais ($730.3 million), boosted by a tax gain.
WHY IT'S IMPORTANT
Vibra is one of the largest fuel distributors in Latin
America, operating a chain of gas stations and also selling fuel
directly to companies.
BY THE NUMBERS
Vibra's net profit jumped from the 1.26 billion reais it
registered in the same period last year.
Adjusted net revenue rose 7.4% year-on-year, to 46.4 billion
reais, even though sales volume came down 0.3%.
Vibra's adjusted earnings before interest, taxes,
depreciation and amortization (EBITDA) declined almost 15% from
the same period last year to 1.99 billion reais, but beat the
1.5 billion reais estimated by analysts in a LSEG poll.
Adjusted EBITDA margin fell 14.6% to 212 reais per cubic
meter.
Vibra said its net profit was boosted by a one-off tax gain
with a net impact of 2.9 billion reais in the period.
($1 = 5.7508 reais)