Mexican manganese and ferroalloys producer Minera Autlan saw its net profit plummet nearly 90 percent in Q3, year-on-year, to $1.9 million, the company said while announcing its quarterly results.
Net revenues in Q3 rose 25 percent, year-on-year, to $116 million, representing for the second consecutive quarter one of the company’s best net revenue marks for the past 10 years.
The company said the increased net revenue was due to improved sales volumes of ferroalloys in Q3, on a year-on-year basis. However, cost of sales in Q3 increased to $88.1 million from $58 million in Q3 2017.
Minera Autlan said EBITDA in Q3 was nearly $29 million, same as in Q3 2017.