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Brazilian holding company Cosan SA (CSAN3.SA) on Friday reported a net loss in second quarter, as a higher interest rate raised its cost of debt.

Cosan, who owns stakes in companies such as Rumo (RAIL3.SA) and Raizen (RAIZ4.SA) posted a 125.3 million real ($24.72 million) net loss in the three months ended in June 30, compared with a net profit of 942.4 million reais in the year-ago period.

Cosan’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) grew 34.5% in the quarter, to 4.14 billion reais.

($1 = 5.0697 reais)