Conoil Plc's Profit Jumps 218.9% to N5.98 Billion in 2026

Conoil (NGX: CONOIL) Plc announced a pre-tax profit of N5.98 billion for the nine months ending September 30, 2026, which is a 218.9% increase from N1.88 billion during the same period in 2025. The company's revenue rose to N280.12 billion from N203.83 billion, reflecting a 37.4% increase, primarily driven by growth in its white petroleum products business.

Profit after tax for the nine months reached N5.31 billion, up from N1.46 billion in 2025. However, the third-quarter results showed a decline, with pre-tax profit dropping to N206.51 million from N774.99 million in the same quarter of 2025.

Despite a revenue increase to N100.23 billion from N64.39 billion, profit after tax for the quarter fell to N152.81 million from N608.36 million. The total cost of sales increased to N254.09 billion, leading to a gross profit of N26.03 billion and an improved gross profit margin of 9.29%.

Conoil's total assets rose by 6.99% to N149.11 billion as of September 2026.