Stock Market
Total Nigeria Predicts Profit After Tax of N1.5 Billion for Q1 2021
Total Nigeria Plc on Wednesday released its earning forecast for the first quarter of 2021.
In the forecast statement of profit or loss and other comprehensive income for the quarter ending March 2021, Total Nigeria projected N115.975 billion revenue for the first quarter of 2021.
Cost of sales was estimated at N103.572 billion with gross profit predicted at N12.403 billion.
Other income, selling and distribution costs and administrative expenses were projected at N811,783 million, N2.6 billion and N7.917 billion, respectively.
Total estimated that operating profit will be N2.697 billion with N471.011 million net finance costs.
The oil giant estimated profit before tax at N2.226 billion, up from the N912.89 million posted in the third quarter of 2020.
Also, it predicted profit before tax at N1.5 billion, over 200 percent more than the N500.12 million recorded in the third quarter of 2020.