são paulocosan swung to a loss in the first quarter from a profit the year earlier after provisioning for a possible legal loss in a tax dispute and after marking down the value of the companys stake in iron mining giant vale the são paulobased energy and logistics conglomerate reported a net loss of 9041 million reais the equivalent of 185 million in the quarter compared with net income of brl5102 million in the same period a year earlier net revenue increased to brl372 billion from brl347 billion in the first quarter of last year the companys adjusted net loss was brl115 million after adjusted net income of brl3054 million a year earlier cosan said it provisioned brl15 billion after a court ruling on a tax dispute made a loss in the case more likely the company said the final result of the court ruling isnt known yet cosan said cosan acquired a 49 stake in vale in the fourth quarter of 2022 and the impact of that investment on cosans results in the first quarter was significant the loss in the three months through march was partly due to the negative effect of a marktomarket update of the value of its stake in vale cosan said