Stronger Earnings Push NGX Group’s Q1 Profit to N2.11bn

The Nigerian Exchange Group Plc posted a 58% surge in its profit after tax, reaching N2.11bn in the first quarter ended March 31, 2025, compared to N1.34bn in the same period last year.

The unaudited financial report submitted to the Nigerian Exchange Limited highlighted that the improved earnings were largely fueled by stronger income and a sharp reduction in finance costs.

During the quarter, total income rose to N4.58bn from N3.94bn in Q1 2024. A significant part of this gain came from a 126% leap in other income, which climbed to N1.01bn from N450.6m. Revenue saw a slight boost, moving from N3.49bn to N3.56bn.

Personnel and operational costs were recorded at N1.22bn and N1.08bn respectively, bringing total operating expenses to N2.43bn, compared to N2.25bn in the same quarter last year.

Operating profit stood at N2.15bn, marking a 27% rise from the previous year’s N1.69bn.

One of the key factors behind the improved performance was the substantial drop in finance costs, which fell by over half to N254.4m from N571.7m, indicating better cost management or reduced debt servicing.

Despite a 34% decline in earnings from associate companies to N593.6m (down from N899.7m), the group’s profit before tax increased to N2.49bn from N2.01bn. Income tax expenses also fell to N372.95m from N675.74m, further boosting net earnings.

As of March 31, 2025, the group’s total assets climbed to N69.9bn from N68bn recorded at the end of December 2024. Retained earnings rose to N46.98bn from N44.86bn, while total equity increased to N50.66bn.

The group remains on solid financial footing, holding investment securities exceeding N28.8bn and trimming total liabilities to N19. 24bn from N19. 49bn in December.