JaPaul Oil Q1, 2012 Earnings: Revenue =N= 2.9 billion, Net Income =N= 803 million
JaPaul Oil reported its Q1, 2012 earnings on the Nigerian Stock Exchange today.
Revenue came in at N 2.9 billion, up 20% from the N 2.5 billion it recorded in Q1, 2o11.
Operating expenses declined 4% to N 784 million for the period, from N 818 million expended over Q1, 2011.
The improvement in cost management led to increase in profitability across the board.
Profit before tax came in at N 892 million, up 25% from N 712 million recorded over Q1, 2011.
Net income swelled to N 803 million, up 25% from N 640 million made in the corresponding period of 2011.
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