By E-Tranzact International Plc emerged as the Nigerian Exchange Limited’s best-performing stock in the week ended October 16, rising 42.98 per cent to ₦17.30 despite declining profits.
The electronic payments company’s strong share-price performance came as the wider market fell for the third consecutive week. Losses in major banking and telecommunications stocks pushed the benchmark All-Share Index down 0.3 per cent to 247,539 points.
E-Tranzact shares closed at ₦17.30 on Friday, up approximately ₦5.20 from ₦12.10 at the start of the week.
However, the rally came amid mixed financial results. The company’s unaudited accounts for the six months ended June 30, 2026, showed that revenue grew by 22.6 per cent to ₦16.28 billion from ₦13.28 billion a year earlier.
Despite the increase in revenue, profit after tax fell 19.1 per cent to ₦1.22 billion, compared with ₦1.51 billion in the first half of 2025.
Cost of sales climbed 38.9 per cent to ₦9.50 billion from ₦6.84 billion, limiting gross profit growth to 5.2 per cent, from ₦6.44 billion to ₦6.78 billion.
Administrative expenses also rose 21.9 per cent to ₦4.81 billion, while operating profit dropped 23.2 per cent to ₦1.59 billion. Profit before tax declined 19.1 per cent to ₦1.75 billion from ₦2.16 billion.
Investment income provided some support, increasing to ₦156.8 million from ₦98.8 million.
The company’s 2025 audited results showed revenue rising 2.4 per cent to ₦30.61 billion. However, annual profit after tax fell to ₦2.47 billion from ₦3.39 billion in 2024, despite an improvement in gross profit.
At the end of June 2026, total assets stood at ₦39.02 billion, down from ₦46.14 billion in December 2025. Cash and cash equivalents fell to ₦23.69 billion, while total liabilities declined to ₦21.60 billion. Shareholders’ equity increased to ₦17.41 billion.
Founded in 2003, E-Tranzact provides electronic payment technology and transaction-processing services.
Its latest results highlight the challenge of turning revenue growth into stronger profits as operating costs rise. Although the stock led weekly market gains, the available figures do not establish what caused its sharp price increase.
