May 12, 2017 / 11:24 AM / in 5 months

Brazil's Kroton beats first-quarter profit, EBITDA forecasts

SAO PAULO, May 12 (Reuters) - Brazilian college operator Kroton Educacional SA topped first-quarter profit estimates as recurring net income rose 14 percent from a year ago to 577 million reais ($183.8 million).

According to a Friday securities filing, earnings before interest, tax, depreciation and amortization, a gauge of operating profit known as EBITDA, totaled 640 million reais when adjusted for non-recurring items, a 5 percent increase. Reuters consensus estimates were 527 million reais and 621 million reais, respectively.

$1 = 3.1399 reais Reporting by Bruno Federowski

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