Total Energies Marketing Nigeria Plc, one of the downstream oil and gas players of the NGX, is off to a rough start in 2025.
After posting a record pre-tax profit of N42 billion and a post-tax profit of N27.5 billion last year, the highest in five years, its Q1 2025 results tell a different story.
Pre-tax profit plunged by 93% to N1.12 billion, while the company slipped into a post-tax loss of N120 million, compared to a N11.4 billion post-tax profit in Q1 2024.
