Energy

Eterna Projects 56.34% Drop In Profit In Q1 2021

BY NKECHI NAECHE-ESEZOBOR--Eterna Oil, has projected N21.054 billion revenue and profit after tax (PTA) of N106.355 million for the first quarter (Q1) 2021, a 56.34% lower than the forecast for fourth quarter 2020.

This is contained in a notice to the Nigerian Stock Exchange that cash stood at N10.803 billion at beginning of period to N11.169 billion at the end of the period.

The oil firm had in August projected N60.816 billion revenue for the fourth quarter (Q4) 2020 and profit after tax (PTA) of N243.706 million, in same period.

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