VALE Vale SA

SÃ O PAULO—Brazilian mining company Vale SA swung to a net profit in the first quarter, as the company reported gains in derivative operations, compensating for the decline of revenues in the period.

The company reported Thursday a net profit of $1.78 billion in the first quarter, compared with a net loss of $3.2 billion in the first quarter of 2015.

Vale reported a gain of $1.4 billion in its financial results, which included derivative operations, compared with a loss of $4.5 billion in the year ago period.

The company's net operating revenue was $5.7 billion in the first quarter, down from $6.24 billion in the prior period.

Its net debt ended the period at $27.6 billion, up from $24.8 billion in the first quarter a year ago.

Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com

(END) Dow Jones Newswires

April 28, 2016 07:55 ET (11:55 GMT)

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