TotalEnergies Nigeria Plc out-performs rivals as revenue rises 132% Q2

TotalEnergies Nigeria Plc recorded a 132.14 percent rise in revenue in the second quarter of 2021, leaving behind four other major oil marketing companies operating in the country.

Financial statement of the oil major marketing company listed on the Nigerian Exchange Limited said its revenue rose by 132.14 percent to N84.64bn in Q2 2021 from N36.46bn in the same period a year earlier. Its profit before tax also increased to N7.43bn from N423.74m in Q2 2020.

Other oil marketing companies such as Conoil, Ardova Plc, Eterna Plc, and MRS Oil also recorded higher revenues within the period. Conoil’s revenue climbed by 78.92 percent to N34.55bn in Q2 2021 from N19.31bn in the same period of 2020. Its pretax profit increased by 715.51 percent to N939.22m from N115.17m.

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Source: SweetCrudeReports

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