Oando Plc has bounced back to profitability, posting a ₦165.2 billion profit before tax (PBT) in the third quarter of 2025 a major recovery from the ₦14.3 billion loss recorded in the same period last year.

Profit after tax (PAT) jumped to ₦137.9 billion, supported by significant cost reductions and strong finance income, despite weaker revenue performance.

Revenue declined by 29% to ₦820.66 billion, but administrative expenses were slashed from ₦83.24 billion to ₦30.86 billion, boosting margins and pushing operating profit up by 25% to ₦48.98 billion.

For the nine-month period, PBT came in at ₦19.4 billion lower year-on-year while PAT surged to ₦201.3 billion, aided by tax credits and financial gains.

Oando attributed the strong quarter to its cost-control strategy but noted that sector-wide issues such as pipeline sabotage, crude theft, and infrastructure challenges continue to pressure the oil and gas industry. Visit www.jocomms.com for more news.