• Sun. May 28th, 2023

eTranzact Grows Profit Before Tax by 128.7% to N536.4M

ByYinka Okeowo

Aug 3, 2022

Switching and payment processing platform, eTranzact has posted a profit before tax (PBT) of N536.4 million for the 2021 financial year, a128.66 percent improvement from the N1.87 billion loss recorded in 2020.

The award winning company recorded 124.13 percent growth in its profit before tax (PAT)

The figure rose from a negative region of N1.89 billion to N455.75 million.

The figure is 128.66 percent improvement from the N1.87 billion loss recorded in the comparative period.

Wole Abegunde, Chairman said at the firm’s Annual General Meeting (AGM) in Lagos, that the 18-year-old financial institution has commenced a journey to sustainable profitability.

While Olaniyi Toluwalope, Managing Director/Chief Executive Officer of the company, described the performance as impressive.


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