Light SA Posts 16% Decline In Q1 Net Profit

Light SA LGSXY reported a 16% drop in its first-quarter net profit. Light's quarterly net profit fell to 140 million Brazilian reais ($71.7 million), from BRL166 million, in the year-ago period. Its net revenue climbed 4.7% to BRL1.77 billion, from BRL1.69 billion. Its earnings before interest, taxes, depreciation and amortization (EBITDA) declined to BRL434 million. Light shares dropped 1.32% to close at $13.48 on Friday.