Wednesday, January 19, 2022
More

    Total Nigeria Revenue Dropped by 31.61% amid Increasing Bottom-Line Performance

    Must read

    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.
    TOTAL NIGERIA PLC Q3-2020 shows a decline in revenue by 31.61% to N151.71 bn from N221.84  recorded in the third quarter of 2019. Cost of sales also declined by 33.58% reducing the pressure of the low revenue on the gross profit.

    Notably, gross profit declined by 16.20% to N21.029 compared to the N25.09 billion recorded in Q3-2019. A sharp decline of 77.69% was however witnessed on the Operating profit following an increase in operating expenses.

    Total Nigeria Revenue Dropped by 31.61% amid Increasing Bottom-Line Performance

    Finance Income Buoyed Bottom-line to a Profit Making Position

    Surprisingly, Total Nigeria’s Profit Before Tax moved from a loss position of N116 mn in 2019 to a profit of N912 mn in the current period following a surge in Finance income from N0.29 bn to N2.20 bn. This was also supported by a 58.26% decline in finance cost. Consequently, Profit After Tax improved to N500mn from a loss of N204 mn in Q3-2019.

    - Advertisement -spot_img

    More articles

    - Advertisement -spot_img

    Latest article

    %d bloggers like this: