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Eterna’s revenue rose 71.7 percent to N365.56 billion in the nine months ended September 2026.
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Profit after tax surged to N7.34 billion from N325.88 million, while profit before tax increased to N10.28 billion.
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Total equity climbed to N32.99 billion from N7.77 billion at the end of December 2025.
November 03, (THEWILL) – Eterna Plc recorded a sharp improvement in its financial performance in the first nine months of 2026, as revenue growth translated into higher operating earnings and a significant increase in net profit.
The energy company’s unaudited results for the nine months ended September 30, 2026, showed revenue of N365.56 billion, representing a 71.7 per cent increase from N212.84 billion recorded in the corresponding period of 2025.
Gross profit more than doubled to N23.33 billion from N9.94 billion, while operating profit rose to N11.19 billion compared with N3.19 billion a year earlier.
Profit before tax increased to N10.28 billion from N1.40 billion, while profit after tax climbed to N7.34 billion from N325.88 million in the corresponding period of 2025.
Basic earnings per share also improved to N3.36 from N0.25, reflecting the stronger earnings performance.
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Profitability improves alongside revenue growth
The results indicate that Eterna’s earnings grew faster than its revenue during the period, with gross profit increasing by approximately 134.7 percent and operating profit rising by about 250.8 percent.
The improvement suggests stronger gross profitability and operating performance compared with the same period last year.
Profit after tax also rose substantially, although the comparison is against a relatively low base of N325.88 million in the previous year.
Equity rises as assets expand
Managing Director and Chief Executive Officer, Jude Nwaulune. Photo credit: LinkedIn)Eterna’s balance sheet also strengthened during the nine months.
Total assets increased to N114.19 billion as of September 30, 2026, from N92.19 billion at the end of December 2025.
Total equity rose to N32.99 billion from N7.77 billion over the same period, representing an increase of more than 324 percent.
Commenting on the results, the Managing Director and Chief Executive Officer, Jude Nwaulune, said the company remained focused on improving operational performance, maintaining financial discipline and delivering sustainable value.
He said the nine-month performance reflected progress in building a stronger and more resilient business, adding that management would continue to pursue operational efficiency and growth opportunities.
Eterna operates across the fuels, lubricants and gas segments, with business initiatives focused on strengthening distribution, improving customer experience and expanding its market presence.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
