The Nigerian Exchange Group Plc posted a notable 58% surge in its profit after tax for the first quarter of 2025, reaching N2.11bn, compared to N1.34bn in the same period of 2024. This improvement was driven by stronger income performance and significantly lower finance costs. Total income rose to N4.58bn, supported by a 126% increase in other income, while revenue remained relatively stable at N3.56bn. Operating expenses grew moderately to N2.43bn, reflecting higher personnel and administrative costs.
A standout factor behind the profit growth was the sharp 55% decline in finance costs, which dropped to N254.4m from N571.7m in the prior year. This suggests improved financial management or reduced debt servicing. However, earnings from associate companies declined by 34%, contributing N593.6m compared to N899.7m in Q1 2024.
Profit before tax increased to N2.49bn from N2.01bn, further aided by a reduction in income tax expenses to N372.95m from N675.74m. This combination of higher income and lower tax burden supported the strong bottom-line result. The NGX Group’s improved financial health highlights its focus on revenue diversification and operational efficiency.
On the balance sheet, total assets rose to N69.9bn by March 31, 2025, up from N68bn at year-end 2024. The group also reported stronger retained earnings at N46.98bn and improved equity levels at N50.66bn. With a slight drop in liabilities and investment securities exceeding N28.8bn, NGX Group demonstrates a solid financial position heading into the rest of the year.
Source: Punch