eTranzact Forecast N97.6 Million Profit for Q1 2022

One of Nigeria’s leading payments and collections companies, eTranzact, has predicted a profit after tax of N97.576 million for the first quarter of 2022.

The earning forecast was approved by the eTranzact Board of Directors on 10th December 2021.

Net revenue was estimated at N5.186 billion with the cost of sales put at N4.585 billion for the quarter. Gross profit and operating expenses for the period were predicted to be N602.082 million and N497.964 million, respectively.

The payments company expects operating profit to increase to N104.118 million while investment income was forecast at N43.202 million. Finance cost stipulated at N43.202 million.

The company predicted it will pay N45.918 million in income tax in the first quarter of 2022 and put its expected profit before tax at N143.494 million.