Cia. de Saneamento Basico do Estado de Sao Paulo, Brazil’s largest water utility, reported a 361.8 million-real ($175 million) profit, in the third quarter, a fivefold increase from a year earlier.
The higher net income resulted from revenue increasing 120 million reais, or 4.6 percent, on increased water supply and sewage collection combined with lower construction expenses, Sao Paulo-based Sabesp said yesterday in a statement.
The company has risen 69 percent in Brazil since the start of the year, the second best return among 14 publicly traded water utilities in the Americas.
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