eTranzact International Plc reported a 42.7% decline in profit after tax to N1.38 billion for the nine months ended September 30, 2026, compared with N2.41 billion recorded in the corresponding period of 2025, as rising operating expenses weighed on profitability.
The electronic payment solutions provider’s revenue increased by 4.4% to N20.99 billion from N20.11 billion a year earlier.
However, operating profit fell by 44.4% to N1.75 billion from N3.14 billion, reflecting higher administrative expenses and cost of sales.
The company’s third-quarter performance showed a sharper decline, with profit after tax falling by 80.6% to N156.04 million from N803.96 million in the corresponding quarter of 2025. Revenue for the quarter also declined by 30% to N4.71 billion from N6.74 billion.
eTranzact’s nine-month performance reflects the pressure of rising operating costs, which outpaced revenue growth during the period.
Consequently, profit before tax fell by 42.7% to N1.97 billion from N3.44 billion. The company’s tax expense declined to N590.96 million from N1.03 billion, while profit after tax settled at N1.38 billion.
The quarterly figures showed a sharper deterioration, with operating profit falling by 84.8% to N154.67 million from N1.02 billion in the corresponding quarter of 2025. Profit before tax also declined by 80.6% to N222.91 million from N1.15 billion.
On the balance sheet, total assets declined by 30.2% to N32.21 billion as of September 30, 2026, from N46.14 billion at December 31, 2025, largely reflecting a reduction in cash and cash equivalents.
Total liabilities declined to N14.64 billion from N29.95 billion, driven largely by a reduction in trade and other payables, which fell to N13.81 billion from N27.94 billion.
Meanwhile, shareholders’ equity increased by 8.5% to N17.57 billion from N16.19 billion, supported by an increase in retained earnings to N5.60 billion from N4.22 billion.
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 in the previous trading session.
The stock shed N1.30 per share, reversing part of the 10% gain recorded on Thursday, October 29, when it rose from N16.00 to N17.60.
The shares traded within a daily range of N15.85 to N16.30, while their 52-week trading range stood between N11.00 and N26.90.
