Electric Copel recorded a net loss of BRL 522.37 million in the second quarter of 2022, reversing the BRL 1 billion profit reported in the same period last year, according to a balance sheet published on Tuesday (9) evening.
The state-owned company from Paraná explained that the worsening of results stems from the effects of Law 14,385/2022, which established the obligation to return PIS and Cofins tax credits to energy consumers.
The provision made by Copel for the allocation of these credits had a net effect of R$ 1.2 billion on the quarterly net income.
Earnings before interest, taxes, depreciation and amortization (Ebtida) reached R$709.40 million, down 53.1% from the second quarter of 2021. According to the company, the provision had an impact of R$ 811 million in the indicator.
Copel’s net operating revenue totaled R$ 5.26 billion, a reduction of 3.1% in the annual comparison.
Source: CNN Brasil
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