Petroleum and Petroleum Products Distributors company in the Oil and Gas sector, Conoil Plc, announced a 13% Revenue decline in Q1’21 Result, which ended March 31st.
Conoil declared a profit before tax of N623.48 million in the quarter, representing an increase of 62.8 percent from the N382.915 million filed in the corresponding quarter of 2020.
Key highlights
- Revenue declined by 13% to N33bn from N38bn in the previous quarter.
- Profit before tax grew by 63% to N623m.
- Profit after tax grew by 62.8% to N424m.
- Net Assets grew by 2.2% from N19.5bn to N19.9bn.
- Retained earnings increased by 1.4% from N15.556 billion in Q1 2020 to N15.772 billion in Q1 2021.
- Share capital remained unchanged at N346.976 million while Earnings per share rose by 62.8 percent from 38 kobo to 61 kobo.
