eTranzact International profit falls 19% despite 23% revenue rise

eTranzact International reported a 19% drop in profit after tax for the first half of 2026, falling to ₦1.22 billion from ₦1.51 billion a year earlier. Revenue grew 23% to ₦16.28 billion, but higher costs limited earnings. Cost of sales rose 39% to ₦9.50 billion, gross profit increased only 5% to ₦6.78 billion, and administrative expenses jumped 22% to ₦4.81 billion, pushing operating profit down 23% to ₦1.59 billion.

Investment income rose 59% to ₦156.79 million, yet operating cash flow swung to a deficit of ₦6.86 billion after a sharp increase in payments to suppliers and staff. Total assets expanded 54% to ₦39.02 billion, while liabilities more than doubled to ₦20.82 billion. The company’s shares trade at ₦14.50 on the Nigerian Stock Exchange, giving a market capitalisation of about ₦133.40 billion.