Total Energies grows Q2 profit by 134%

Total Energies Marketing Nigeria Plc released its unaudited statement of financial position for the second quarter (Q2) ended June 30 2024, recording a 93 percent increase in revenue from N274.6 billion in the preceding half year to N529.9 billion.

The company’s profit before income taxation rose to N30.571billion from N13.476billion in Q2’23, up by 127percent. Profit for the period rose to N20.568billion from N8.787billion in Q2’23, up by 134 percent.

In the review period, the energy marketer recorded a 134 percent increase in the total comprehensive income of N20.57 billion as against N8.79 billion in 2023. Additionally, the company’s shareholder fund printed positively at N68.16 billion compared to N51.94 billion in 2023, a growth of about 31 percent.

TotalEnergies Marketing Nigeria Plc (formerly Total Nigeria Plc) is a marketing and services subsidiary of Total SE which is a multinational integrated energy products and services company, providing a broad range of specialised services to utilities, oil and gas producers, agricultural, and industrial clients.

The company which is listed on the oil and gas sector, under the petroleum and petroleum products subsector of the Nigerian Exchange Limited (NGX) has shares outstanding of 339,521,837 units valued at N132.04 billion. The company currently trades at N388.9 per share, nearing its 52-week high of N19.5 as against a 52-week low of N346.5.