March 28 (Bloomberg) -- Cia. Energetica de Minas Gerais, Brazil’s third-largest electricity producer by market value, posted fourth-quarter net income of 710 million reais, beating analysts’ estimates.
Analysts expected the company, known as Cemig, to post net income of 470 million reais excluding extraordinary items, according to a Bloomberg survey.
Net sales totalled 4.3 billion reais in the quarter, according to a regulatory filing.
Cemig rose 1.8 percent yesterday to 44.10 reais in Sao Paulo. The benchmark Bovespa stock index fell 1 percent.
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