Eterna Plc has reported a sharp improvement in its financial performance, with profit after tax rising to ₦7.34 billion in the nine months ended September 30, 2026, as revenue increased by 71.7 per cent to ₦365.56 billion.
The energy company disclosed this in its unaudited consolidated financial results for the third quarter and nine months of 2026, showing a significant improvement across major profitability indicators compared with the corresponding period of 2025.
Revenue increased from ₦212.84 billion in the previous year, while gross profit rose by 134.8 per cent to ₦23.33 billion from ₦9.94 billion.
Operating profit also climbed to ₦11.19 billion, compared with ₦3.19 billion recorded in the corresponding period of 2025, reflecting stronger earnings from its operations.
Profit before tax increased to ₦10.28 billion from ₦1.40 billion, while profit after tax surged from ₦325.88 million to ₦7.34 billion.
Basic earnings per share also improved significantly to ₦3.36 from ₦0.25 in the previous year’s corresponding period.
A breakdown of the company’s revenue showed that its fuel business remained the dominant contributor, generating ₦339.92 billion during the nine-month period, compared with ₦177.79 billion a year earlier.
However, lubricants revenue declined to ₦18.68 billion from ₦32.53 billion, while revenue from other activities increased to ₦6.96 billion from ₦2.53 billion.
The figures highlight the growing contribution of fuel sales to the company’s overall revenue, although the decline in lubricants revenue indicates that growth was not uniform across its business lines.
Eterna’s balance sheet also recorded improvements, with total assets rising to ₦114.19 billion as of September 30, 2026, from ₦92.19 billion at the end of December 2025.
Total equity increased to ₦32.99 billion from ₦7.77 billion over the same period, supported partly by an increase in share capital and share premium during the period.
Commenting on the performance, Managing Director and Chief Executive Officer, Dr Jude Nwaulune, said the results reflected progress in building a stronger and more resilient business.
He attributed the performance to the company’s focus on operational efficiency, financial discipline and long-term value creation.
Nwaulune said Eterna would continue to pursue opportunities for growth, improve efficiency across its operations and strengthen value for shareholders and other stakeholders.
Eterna operates across Nigeria’s energy market, with business interests in fuels, lubricants and gas, supported by distribution and customer-focused initiatives.
The nine-month results underscore the company’s improved earnings performance in 2026, with profit growth significantly outpacing revenue expansion.
