Brazilian petrochem maker Unipar reports Q3 net loss of 140 mln reais

19-Nov-08

Brazilian petrochemicals group Unipar ha sreported a net loss of 140 mln reais (US$61mln) in Q3-08, mainly due to depreciation of the local currency against the US dollar during the period. In the first nine months of 2008, the group made a net loss of 102 mln reais compared to a net profit of 129 mln reais a year ago. The company reported a net profit of 46.6 mln reais in the same quarter last year. Net revenues reached 1.57 bln reais in the quarter, up 123% yoy, Ebitda grew 83% to 200 mln reais in the period. Exchange rate fluctuations also impacted results for the first nine months, petrochemical feedstock price increases also had a negative effect on the group's January-September figures.