Cyrela Q3 net profit R$481M, gross margin up, net margin down

Cyrela reported Q3 net profit of R$481 million, with gross margin up 1pp to 34.0% but net margin down 8.4pp to 20.2%. The mixed margin performance suggests cost pressures or one-off items, while the profit level indicates continued operational strength. This is a routine earnings release, not a market-moving event.

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