Eterna Plc has recorded a significant improvement in its financial performance, with revenue rising by 71.7 per cent to ₦365.56 billion for the nine months ended September 30, 2026.
The oil and gas company’s unaudited financial results showed that revenue increased from ₦212.84 billion recorded during the corresponding period in 2025, reflecting stronger business performance across its operations.
Profitability also improved considerably, with gross profit climbing to ₦23.33 billion from ₦9.94 billion in the previous year.
Operating profit rose to ₦11.19 billion, compared with ₦3.19 billion recorded in the same period of 2025.
The company’s profit before tax increased to ₦10.28 billion from ₦1.40 billion, while profit after tax surged to ₦7.34 billion against ₦325.88 million reported a year earlier.
Eterna’s basic earnings per share also improved significantly, rising to ₦3.36 from ₦0.25 in the corresponding period of 2025.
The company’s financial position strengthened during the period, with total assets increasing to ₦114.19 billion as of September 30, 2026, compared with ₦92.19 billion at the end of December 2025.
Total equity also rose to ₦32.99 billion from ₦7.77 billion over the same period.
Commenting on the performance, Eterna’s Managing Director and Chief Executive Officer, Dr Jude Nwaulune, said the results reflected progress in strengthening the company’s operations and building a more resilient business.
He said the company remained focused on improving efficiency, maintaining financial discipline, pursuing growth opportunities and creating long-term value for shareholders and other stakeholders.
Eterna operates across the fuels, lubricants and gas sectors, with strategic initiatives aimed at strengthening distribution networks, improving customer experience and sustaining growth.
The latest results highlight a substantial year-on-year improvement in the company’s revenue and earnings, although continued performance will depend on its ability to sustain growth and manage operating costs in
