Fuel Giant Ultrapar’s Profit Jumps 151% as Brazil Cracks Down on Fuel Fraud

3 Key Points — Ultrapar (UGPA3), the group behind Brazil's Ipiranga fuel-station network, Ultragaz cooking gas and Ultracargo terminals, posted a first-quarter net profit of R$914 million ($179M), up 151% year over year, with recurring EBITDA…