NGX Group Profit Rises to ₦4.09 Billion as Investment Income Drives Earnings Growth in Q1 2026
Nigerian Exchange (NGX) Group Plc reported a profit after tax of ₦4.09 billion for the first quarter (Q1) ended March 31, 2026, representing a 93.7 percent increase from ₦2.11 billion recorded in the corresponding period of 2025.
Revenue grew substantially to ₦7.22 billion from ₦3.56 billion, a 102.9 percent year-on-year increase.
The strong topline performance underscores improved activity across the capital market value chain, including trading, listing and ancillary services.
Total income rose to ₦7.80 billion from ₦4.58 billion, despite a decline in other income to ₦579.73 million from ₦1.02 billion recorded in Q1 2025.
Operating expenses increased sharply during the period. Personnel expenses rose to ₦1.85 billion from ₦1.22 billion, while other operating expenses climbed to ₦1.80 billion from ₦1.08 billion. Depreciation and amortisation also increased to ₦203.40 million from ₦125.93 million.
As a result, total operating expenses rose to ₦3.85 billion from ₦2.43 billion. However, strong revenue growth offset the increase in costs, pushing operating profit to ₦3.95 billion, up from ₦2.15 billion in the prior year.
Profit before tax rose to ₦5.98 billion from ₦2.49 billion, supported by a significant increase in share of profit from equity-accounted investees, which climbed to ₦2.03 billion from ₦593.59 million.
Income tax expense increased substantially to ₦1.89 billion from ₦372.95 million, reflecting higher taxable earnings.
Profit after tax settled at ₦4.09 billion, while total comprehensive income declined to ₦3.47 billion due to an other comprehensive loss of ₦620.94 million recorded during the period.
On the balance sheet, total assets increased to ₦76.33 billion from ₦71.05 billion as at December 31, 2025, driven by a sharp rise in investment securities, which expanded to ₦5.16 billion in current assets from ₦1.70 billion, alongside strong positions in long-term investments and associates valued at ₦36.01 billion.
Cash and cash equivalents rose to ₦2.65 billion from ₦2.55 billion, indicating stable liquidity.
Total liabilities increased to ₦17.65 billion from ₦15.85 billion, largely due to higher current tax liabilities and deferred income balances.
Shareholders’ equity strengthened to ₦58.68 billion from ₦55.20 billion, supported by growth in retained earnings, which rose to ₦52.66 billion from ₦48.56 billion.
The Q1 2026 performance reflects a strong earnings recovery driven by revenue expansion and investment income, although rising operating costs and tax obligations continue to shape the Group’s financial profile.
