eTranzact International Plc reported a 42.7% decline in profit after tax to N1.38 billion for the 9 months ended September 30, 2026, in contrast with N2.41 billion recorded within the corresponding interval of 2025, as rising working bills weighed on profitability.
The digital cost options supplier’s income elevated by 4.4% to N20.99 billion from N20.11 billion a 12 months earlier.
However, working profit fell by 44.4% to N1.75 billion from N3.14 billion, reflecting greater administrative bills and price of gross sales.
The firm’s third-quarter efficiency confirmed a sharper decline, with profit after tax falling by 80.6% to N156.04 million from N803.96 million within the corresponding quarter of 2025. Revenue for the quarter additionally declined by 30% to N4.71 billion from N6.74 billion.
Key Highlights
- Revenue: N20.99 billion, up 4.4% from N20.11 billion.
- Gross profit: N9.44 billion, down 4.7% from N9.91 billion.
- Operating profit: N1.75 billion, down 44.4% from N3.14 billion.
- Profit earlier than tax: N1.97 billion, down 42.7% from N3.44 billion.
- Profit after tax: N1.38 billion, down 42.7% from N2.41 billion.
- Cost of gross sales: N11.55 billion, up 13.1% from N10.21 billion.
- Administrative bills: N7.20 billion, up 20.3% from N5.99 billion.
- Total belongings: N32.21 billion, down from N46.14 billion at December 2025.
- Cash and money equivalents: N17.15 billion, down from N31.65 billion.
- Total fairness: N17.57 billion, up from N16.19 billion.
Driving the numbers
eTranzact’s nine-month efficiency displays the strain of rising working prices, which outpaced income development through the interval.
- Revenue elevated by 4.4% to N20.99 billion from N20.11 billion within the corresponding interval of 2025. However, the price of gross sales rose by 13.1% to N11.55 billion from N10.21 billion, decreasing gross profit by 4.7% to N9.44 billion from N9.91 billion.
- The firm’s gross profit margin additionally weakened to roughly 45% from 49.2% a 12 months earlier, indicating {that a} bigger proportion of income was absorbed by the price of delivering its companies.
- Administrative bills rose by 20.3% to N7.20 billion from N5.99 billion, whereas promoting and advertising and marketing bills declined by 36.3% to N494.69 million from N776.67 million.
- The mixed impact of upper value of gross sales and administrative bills contributed to a 44.4% decline in working profit to N1.75 billion from N3.14 billion.
- Investment earnings additionally declined by 27% to N228.18 million from N312.39 million, whereas finance prices lowered to N10 million from N15.04 million.
Consequently, profit earlier than tax fell by 42.7% to N1.97 billion from N3.44 billion. The firm’s tax expense declined to N590.96 million from N1.03 billion, whereas profit after tax settled at N1.38 billion.
The quarterly figures confirmed a sharper deterioration, with working profit falling by 84.8% to N154.67 million from N1.02 billion within the corresponding quarter of 2025. Profit earlier than tax additionally declined by 80.6% to N222.91 million from N1.15 billion.
Balance sheet
On the steadiness sheet, complete belongings declined by 30.2% to N32.21 billion as of September 30, 2026, from N46.14 billion at December 31, 2025, largely reflecting a discount in money and money equivalents.
- Cash and money equivalents fell to N17.15 billion from N31.65 billion, whereas restricted money declined to N13.25 billion from N25 billion.
- The firm recorded N2.11 billion in internet money generated from working actions through the nine-month interval. However, internet money utilized in investing actions stood at N16.55 billion. This included a N15.41 billion motion in restricted money and N1.38 billion spent on property, plant and tools.
Total liabilities declined to N14.64 billion from N29.95 billion, pushed largely by a discount in commerce and different payables, which fell to N13.81 billion from N27.94 billion.
Meanwhile, shareholders’ fairness elevated by 8.5% to N17.57 billion from N16.19 billion, supported by a rise in retained earnings to N5.60 billion from N4.22 billion.
Market response
Shares of eTranzact International Plc fell by 7.39% on Friday, October 30, 2026, closing at N16.30 on the Nigerian Exchange, down from N17.60 recorded within the earlier buying and selling session.
The inventory shed N1.30 per share, reversing a part of the 10% gain recorded on Thursday, October 29, when it rose from N16.00 to N17.60.
The shares traded inside a every day vary of N15.85 to N16.30, whereas their 52-week buying and selling vary stood between N11.00 and N26.90.
