Oando Plc has released its financial results for the first quarter of 2025, reporting a profit after tax (PAT) of N113 billion, up 90.5% from N59.3 billion recorded in the same period of 2024.
Interestingly, this net profit came despite the company posting a pre-tax loss of N52.5 billion, compared to a pre-tax profit of N70.3 billion in Q1 2024.
The swing to net profitability was driven by a substantial income tax credit of N165.6 billion, which more than offset the loss before tax.
