November 6, 2018 / 10:36 AM / 10 days ago

Petrobras Q3 net income soars on oil price rise

RIO DE JANEIRO, Nov 6 (Reuters) - Brazil's state-controlled oil company Petroleo Brasileiro SA reported a big jump in net profit in the third quarter, helped by a pick-up in oil prices and a growing share of the domestic diesel market, a filing showed on Tuesday.

Petrobras, as the company is known, earned a net profit of 6.644 billion reais ($1.78 billion), well above the 266 million reais it posted a year earlier.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose to 29.856 billion reais from 19.223 billion in the same period last year.

$1 = 3.7260 reais Reporting by Alexandra Alper; editing by Jason Neely

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