Oando Plc delivered an improved performance in the third quarter of 2025, reporting a profit before tax of N165.2 billion, a turnaround from the N14.3 billion loss recorded in the same period last year.

Profit after tax also rose sharply to N137.9 billion in the company’s unaudited statement, compared to N13.6 billion in Q3 2024.

For the nine-month period, profit before tax stood at N19.4 billion, down from N31.1 billion a year earlier, while profit after tax surged to N201.3 billion from N76.2 billion, largely driven by increased tax credit.

The improved quarterly results were driven by lower administrative expenses and stronger finance income, which helped offset the impact of weaker revenue and higher impairment charges.

Oando’s Q3 2025 revenue fell by 29.2% year-on-year to N820.6 billion, from N1.15 trillion in the same period last year, likely due to reduced trading volumes.

The results suggest that Oando is prioritizing cost control and margin stability, even as top-line growth remains under pressure.

Oando recorded operating income of N48.98 billion in Q3 2025, up from N39.08 billion in the same quarter last year.

Despite lower income and higher impairments, reduced expenses helped lift operating profit year-on-year.

Oando’s Q3 bottom-line profit was largely driven by a sharp rise in finance income:

Finance costs rose to N94.7 billion, up from N64.4 billion last year.

The company also recorded a small profit from associates (N1.18 billion).

As a result, profit before tax rose to N165.2 billion, from a loss of N14.3 billion, while profit after tax increased to N137.9 billion, despite a tax expense.

Oando’s balance sheet shows modest improvements, though the company remains in a negative equity position.

While equity remains in the red, the narrowing deficit suggests some progress toward balance sheet repair.