a Itaisa (ITSA4), a holding company that controls Itaú Unibanco (ITUB4), on Monday, reported achieving a recurring net profit of 2.675 billion riyals in the third quarter, an increase of 35.4% over the same stage of 2020.
The company explained in the report that the advance mainly reflects a better result for Itaú, as it benefited from an expansion in its credit portfolio, a better margin with defaults, as well as expense growth at a slower pace than inflation.
Among the industrial companies in the ETAISA portfolio, the shoe manufacturer espadrilles (ALPA4) accounted for 12.7% in net revenue, while the sanitary ware and wood panel producer Dexco (DXCO3It also expanded in all of its major lines.
On the other hand, the results of natural gas transmission and distribution company NTS and cooking gas company Copa Energia have come under pressure, the former by exchange rate effects and the latter by Liquigás purchase expenses.
As of July, ETAISA has started recording the results of the basic sanitation company Aegea. It also has a stake in the XP investment platform, the results of which also contributed to earnings growth.
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