eTranzact forecasts 389.59% growth in profit to N209m

By Kayode Tokede

eTranzact International Plc has released its earnings forecast for the third second quarter (Q3) ending September 30th , 2021 at the Nigerian Exchange Limited (NGX) with a revenue of N5.926 billion up from N4.689 billion forecasted for Q2 2021.

The forecast projected a 389.59per cent growth of  profit after tax to N209.114 million compared with N42.712 million forecasted for Q2 2021.

eTranzact International had reported in its unaudited financial N182.5 million loss in the first quarter ended March 31st , 2020. This is a huge decline from the N90.75 million profit recorded in the same period in 2019.

While its revenue rose by 5.81per cent from N5.59 billion in Q1 2019 to N5.91 billion in Q1 2020, eTranzact still incurred a huge loss owing to its huge administrative and operational costs.