Eternal Oil Plc has declared a pre-tax profit of N1.4 billion for the first quarter of the year.
The pre-tax profit is above its projection of N756 million.
The company said the improvement reflects the positive impact of FX stability on the company’s performance and signals a solid start to the year.
It added that the strong result was mainly due to the absence of foreign exchange losses, a major turnaround from the N10.688 billion FX loss recorded in Q1 2024.
Eterna’s stock has been on a tear this year. It closed at N49.95 on April 30, 2025, marking a year-to-date gain of 106%, ranking it the 8th best performing stock on the NGX.
Highlights:
- Revenue: N73.272 billion +8.09% YoY
- Cost of sales: N68.959 billion +20.49% YoY
- Gross profit: N4.313 billion -59.14% YoY
- Finance cost: N468 million -41.45% YoY
- Profit after tax: N687 million -116.91% YoY
- Earnings per share: N0.53 +116.99% YoY
- Cash and cash equivalent: N4.768 billion -19.71%
- Total assets: N84.928 billion +25.96%
- Retained earnings; -N910 million -43.02%
- Shareholders’ Funds: N5.538 billion +14.17%
