Ecobank Transnational Incorporated (ETI) has disclosed its unaudited financial results for the Q2 period ended June 30, 2019. Gross earnings rose from 384.5 billion in 2018 to N405.2 billion in 2019, representing an increase of 5%. Revenue for the period increased from N278.61 billion in Q2 2018 to N280.1 billion in 2019, indicating a 0.53% increase.
Profit before tax also jumped from N65.09 billion in 2018 to N73.4 billion in 2019, representing a 13% increase while Profit after tax increased from N51.55 billion in 2018 to N59.49 billion in 2019. Depicting an increase of 15.40%.
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Diluted earnings per share also increased from 166 kobos in 2018 to 175.67 kobo in 2019. Indicating a boost of 5.82%.
In the same vein, AIRTELAFRI declared $132.2m PAT in Q2 2019 Results. Revenue of the Telco giant grew by 6.90% to $795.9m from $744.5m in the previous year.
Profit Before Tax increased by 108.73% to $167.4m from $80.2m loss recorded in the previous year.
Profit for the Year however declined by 12.22% to $132.2m.