Eterna Oil’s Earnings Top N 41 billion in FYE 2011 Audited Report
Eterna Oil, an indigenous integrated energy company operating in the upstream and downstream petroleum sector recently released its audited financial statements for the year 2011.
The company reported a 190.5% growth in headline revenue that topped N 41 billion, up from N 14 billion in the previous financial year end.
Profit before Taxes for the period were up 54.4% to N 1.79 billion, from N 1.16 billion reported in the previous financial year.
Net income also swelled to N 1.2 billion, up 67.6% from the N 722 million the company made at the end of 2010.
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