Transnational Corporation of Nigeria Plc, Transcorp, has announced financial results for its third quarter, ended September 30, 2017, showing a Profit After Tax (PAT) for Q3 2017 rising by 158 per cent to N8.2 billion.
The conglomerate’s income statement indicated a Q3 2017 revenue of N56.76bn, significant growth from N41.92bn and a 35 per cent growth Year on Year (YoY). The company’s Gross Profit improved from N19.84bn in Q3 2016 to N25.62bn (45 per cent YoY) in Q3 2017 along with an Operating Profit of N16.81bn, compared to N11,58bn reported in Q3 2016.
Transnational Corporation’s Net Finance Cost for Q3 2017 stood at N7.77bn, down from N24.37bn in Q3 2016, while Profit Before Tax was an impressive N9.04bn, a significant recovery from reported loss of N12.7bn in Q3 2016.
Q3 2017 Profit After Tax OF 8.19bn, a 158 per cent YoY growth from loss of (14.21bn) in Q3 2016 and Total Comprehensive Income of N10.1bn compared to loss of (13.81bn) in Q3 2016 has the conglomerate moving in the right direction for the second consecutive quarter.
Company Total Assets also grew to N287bn, up from N232bn as at December 31, 2016, while Shareholders Fund grew to N97bn, up from N86bn, as at December 2016.
