Eterna Nine-Month Results: Profit Hits ₦7.34bn as Revenue Grows 71.7%
Illustration: generic forecourt and financial growth motif.
Eterna Plc’s nine-month profit rose more than twentyfold as higher fuel revenue helped lift sales to ₦365.56 billion.
Illustration: generic petrol station forecourt, created as an editorial visual.
Eterna nine-month results show revenue climbing 71.7 per cent to ₦365.56 billion for the period ended 30 September 2026, while profit after tax reached ₦7.34 billion. The unaudited figures, filed with the Nigerian Exchange, compare the company’s performance with the same nine months in 2025, when revenue stood at ₦212.84 billion and profit was ₦325.88 million. NGX filing
Punch and BusinessDay also reported the year-on-year figures from the unaudited results, providing independent coverage alongside the primary exchange filing. Read the Punch report and BusinessDay report. The results cover both the third quarter and the nine-month period. Eterna reported ₦148.24 billion in revenue for July to September, up from ₦55.19 billion in the same quarter of 2025, giving readers a view of the latest quarter alongside the year-to-date totals, according to the NGX filing.
The company operates in fuel marketing, lubricants and gas. Its latest statement shows fuel generating most of its sales, while profit growth came with a wider gross margin and higher interest income on bank deposits. That mix gives shareholders a clearer picture than the headline revenue figure alone.
What do Eterna nine-month results show about fuel sales?
Fuel revenue reached ₦339.92 billion in the nine months to September, compared with ₦177.79 billion a year earlier. That represented about 93 per cent of Eterna’s total revenue for the period. Lubricant revenue moved in the other direction, easing to ₦18.68 billion from ₦32.53 billion, while revenue from other activities reached ₦6.96 billion from ₦2.53 billion, according to the company’s NGX filing.
With fuel contributing about 93 per cent of reported revenue, the category dominates Eterna’s sales mix. The statement reports sales in naira and shows the amount each business line contributed.
For a plain comparison, the main nine-month figures from the company statement are:
| Measure | 2026 nine months | 2025 nine months |
|---|---|---|
| Revenue | ₦365.56 billion | ₦212.84 billion |
| Gross profit | ₦23.33 billion | ₦9.94 billion |
| Operating profit | ₦11.19 billion | ₦3.19 billion |
| Profit before tax | ₦10.28 billion | ₦1.40 billion |
| Profit after tax | ₦7.34 billion | ₦325.88 million |
Why did Eterna’s profit grow faster than revenue?
Gross profit increased by about 135 per cent, faster than the 71.7 per cent revenue rise. Gross profit represented roughly 6.4 per cent of sales, compared with about 4.7 per cent in 2025. In simple terms, Eterna kept a larger share of each naira of revenue after the direct cost of the products it sold.
Operating profit rose to ₦11.19 billion from ₦3.19 billion. General and administrative expenses also increased, reaching ₦12.15 billion from ₦7.23 billion, while selling and distribution expenses stayed close to the previous year’s level at ₦136.50 million. The resulting operating profit shows the combined effect of higher gross profit and operating costs.
Finance income added another boost below the operating line. Eterna reported ₦1.08 billion in interest income from short-term bank deposits, compared with ₦12.25 million in the prior-year period. Finance costs came to ₦1.93 billion, close to the ₦1.96 billion recorded a year earlier, and the company reported a ₦66.06 million foreign-exchange loss.
What did the results mean for shareholders?
Basic earnings per share rose to ₦3.36 from 25 kobo. That measure divides profit attributable to shareholders by the weighted average number of shares in issue, so investors can compare the result with their ownership on a per-share basis. Eterna’s filing records 2.19 billion weighted-average shares for the 2026 period, against 1.30 billion in 2025.
The company also issued 882.06 million shares during the period, raising about ₦18.97 billion in share capital and premium. That capital increase forms part of the balance-sheet context for investors weighing the stronger profit against the larger share count. Eterna paid a dividend of ₦1.09 billion during the nine months, according to the filing.
Managing director and chief executive Jude Nwaulune said Eterna remained focused on operating efficiency and financial discipline. He told Punch News that the year-to-date result reflected progress towards building a stronger business.
Investors will follow the company’s next results for signs that fuel sales, margins and deposit income can support earnings through the final quarter. For customers, the filing gives a company-level account of sales across fuels, lubricants and gas; it offers a record of Eterna’s business performance over nine months.
Eterna nine-month results: frequently asked questions
How much revenue did Eterna report in nine months?
Eterna reported revenue of ₦365.56 billion for the nine months ended 30 September 2026, up from ₦212.84 billion a year earlier.
How much profit did Eterna make?
Profit after tax reached ₦7.34 billion, compared with ₦325.88 million in the corresponding 2025 period.
What was Eterna’s revenue in the third quarter alone?
Revenue for July to September 2026 was ₦148.24 billion, compared with ₦55.19 billion in the same quarter of 2025.
Which business generated most of Eterna’s revenue?
Fuel produced ₦339.92 billion, or about 93 per cent of total revenue, in the nine-month period.