eTranzact records N2.2bn profit in 2023

eTranzact International Plc on Monday announced a Profit After Tax (PAT) of N2.2 billion for the year ended Dec. 31, 2023, as against N1.18 billion posted in 2022.

Company Secretary of eTranzact, Mr Isaiah Oreweme, said this in the company’s annual report and audited financial statements for the year 2023, sent to the Nigerian Exchange Ltd. (NGX) in Lagos.

Oreweme said that the electronic payment technology and maintenance services company’s Profit Before Tax (PBT) for the year under review stood at N3.2 billion, compared to N1.61 billion recorded in the year 2022.

He stated that the company’s gross profit rose to N8.32 billion at the end of the 2023 financial year from N5.7 billion posted in the previous year.

According to him, the total liabilities of eTranzact leaped to N16.73 billion as at the close of the 2023 financial year, from N10.5 billion recorded in the year 2022.

The company secretary stated that the firm’s total assets also grew to N28.21 billion in 2023, compared to N19.78 billion posted in the year 2022.