SAO PAULO – Brazilian holding company Cosan SA on Friday reported a net loss in second quarter, as a higher interest rate raised its cost of debt.
Cosan, who owns stakes in companies such as Rumo and Raizen posted a 125.3 million real ($24.72 million) net loss in the three months ended in June 30, compared with a net profit of 942.4 million reais in the year-ago period.
Cosan’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) grew 34.5% in the quarter, to 4.14 billion reais.
($1 = 5.0697 reais)
(Reporting by Peter Frontini; Editing by Christian Plumb)