Brazil ferroalloys producer Ferbasa posted a BRL 21.3 million net loss in Q2, the company said, while releasing its quarterly results.
Ferbasa posted a BRL 12.6 million net profit in Q1 and a BRL 79.4 million net profit in Q2 2015.
Net revenues in Q2 2016 totaled BRL 266.8 million, 12.6 percent down, quarter-on-quarter, at the same time cost of products sold rose 13.3 percent in the same period, quarter-on-quarter, to BRL 263.3 million in Q2.
Gross profit in Q2 declined to 1.3 percent, as opposed to a 23.9 percent gross profit seen in the previous quarter.
1 USD = BRL 3.18 (August 12)