MRS Oil said profit fell to NGN1.1 billion in nine months

Union Diagnostics

MRS oil Nigeria plc is reporting 809.1 million profit in its financial report for the nine months ended in 2017 compared to NGN1.1 billion profit reported in the same period last year.

The company delivered a lower revenue of NGN81.9 billion in contrast to NGN82.3 billion recorded in the previous year while gross profit also dropped to NGN6.o billion from NGN7.3 billion in the year before.

The company’s operating profit lowered to NGN1.2 billion against NGN3.1 billion posted in the fiscal year 2016 while net finance cost stood at NGN66.0 million against NGN1.2 billion loss in the year 2016.

Total assets declared by MRS oil Nigeria for the nine months was NGN61.2 billion in contrast to NGN81.3 billion posted in 2016 while total liabilities lowered to NGN38.7 billion against NGN59.0 billion in the year before.