TotalEnergies Marketing Nigeria Plc reported a 11 per cent decline in revenue to N197.18 billion for the first quarter ended March 31, 2026.

This compares with N221.62 billion recorded in the corresponding period of 2025.

The figures were stated in the company’s unaudited financial statement released on the Nigerian Exchange Ltd. on Wednesday.

Profit after tax stood at N1.17 billion, marking a turnaround from a loss of N120.03 million posted in the same period of 2025.

Profit before tax rose by 71 per cent to N1.91 billion, from N1.12 billion a year earlier, indicating improved operational efficiency.

The company said the performance showed “resilience despite revenue pressures and a challenging operating environment”.

Total comprehensive income also improved to N1.17 billion, reversing the loss recorded in the prior year.

Shareholders’ funds fell by 21 per cent to N48.71 billion, compared with N61.38 billion in March 2025, while share capital remained unchanged at N169.76 million.

Earnings per share stood at N3.45, against a loss per share of 35 kobo in the corresponding period of 2025.

The company’s share price closed at N640, down from N679.70, representing a six per cent decline during the review period.

TotalEnergies also reported a slight workforce reduction, with staff strength at 404, down from 420 the previous year.

(NAN)