Conoil grows Q1 profit by 62.8%

Conoil Plc on Wednesday published its First Quarter report for the period ended 31 March 2021.

The Oil firm reported a turnover of N33.09 billion, down by 13.24% from N38.14 billion reported in Q1 2020.

Profit after tax for the 3 months period was N423.931 million, up by 62.81% from N260.382 million.

Earnings per share (EPS) of the firm increased to 61 kobo from the EPS of 38 kobo reported in Q1 2020.

At the share price of N18.7, the P.E ratio of Conoil stands at 30.61x with earnings yield of 3.27%.

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