Conoil Plc has released its unaudited financial results for the first quarter ended March 31, 2025, revealing a significant decline in both revenue and profit compared to the same period in 2024.
The oil marketing company reported a revenue of ₦79.26 billion in Q1 2025, representing a 12.8% drop from the ₦90.94 billion recorded in the corresponding quarter of 2024.
Profit after tax fell sharply by 93.3% to ₦292.05 million, down from ₦4.34 billion posted in Q1 2024, indicating a substantial squeeze on margins.
Earnings per share (EPS) for the quarter stood at 42 kobo.
Based on its current share price of ₦234.50, Conoil's price-to-earnings (P/E) ratio has surged to 558.33x, while its earnings yield now stands at a modest 0.18%.
The results reflect ongoing challenges in the downstream oil and gas sector, including rising operational costs and volatile macroeconomic conditions.
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