Get Guardian on GoogleEterna Plc has reported a sharp increase in profit after tax to N7.34 billion for the nine months ended September 30, 2026, from N325.88 million recorded in the corresponding period of 2025, driven by stronger revenue and operating performance.
The company’s unaudited consolidated financial results showed that revenue rose by 71.7 per cent to N365.56 billion from N212.84 billion in the preceding year.
Gross profit increased to N23.33 billion from N9.94 billion, while operating profit climbed to N11.19 billion, compared with N3.19 billion recorded in the corresponding period of 2025.
Similarly, profit before tax rose to N10.28 billion from N1.40 billion, while basic earnings per share increased to N3.36 from N0.25 in the prior-year period.
The company’s balance sheet also strengthened, with consolidated total assets rising to N114.19 billion as at September 30, 2026, from N92.19 billion at the end of December 2025.
Total equity increased to N32.99 billion from N7.77 billion over the same period.
Commenting on the performance, Eterna’s Managing Director and Chief Executive Officer, Dr Jude Nwaulune, said the company remained focused on improving operational efficiency, maintaining financial discipline and delivering sustainable value.
“Our Q3 YTD results reflect the progress we are making in building a stronger and more resilient Eterna. We remain committed to driving efficiency across our operations, pursuing opportunities for growth and creating long-term value for our shareholders and stakeholders,” he said.
The company said its strategic priorities remained focused on its fuels, lubricants and gas businesses, with initiatives aimed at strengthening distribution, improving customer experience and sustaining growth.
