{
  "id": 17276129,
  "title": "Oando records N74.65 billion pre-tax loss in 9M 2026 as finance costs hit N235.23 billion",
  "url": "https://urgent.news/2026/10/30/oando-records-n74-65-billion-pre-tax-loss-in-9m-2026-as-finance-costs",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-30T19:24:06.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/10/30/oando-records-n74-65-billion-pre-tax-loss-in-9m-2026-as-finance-costs-hit-n235-23-billion/"
  },
  "original_language": "en",
  "account": "Oando Plc disclosed a substantial pre-tax loss of N74.65 billion for the nine months ending September 30, 2026, marking a stark contrast to the N19.46 billion profit reported in the same period a year prior. This downturn was primarily attributed to an alarming surge in net finance costs, which ballooned to N235.23 billion, eclipsing any recovery in the company's operating profit. The company's consolidated financial statements, filed with the Nigerian Exchange on October 30, 2026, revealed a 9.23% increase in revenue to N2.78 trillion, despite the financial setbacks.\n\nDespite the pre-tax loss, Oando managed to maintain an after-tax profit of N106.45 billion, a significant reduction from the N201.31 billion recorded in the preceding year, primarily due to a 47.12% drop. The company's operating profit showed signs of recovery, reaching N159.69 billion, up from a loss of N109.73 billion, driven by improved gross profit and enhanced other operating income. However, the N181.10 billion tax credit that mitigated the loss was a stark 47.12% less than the N201.31 billion noted in the previous year.\n\nInvestors will be closely watching whether Oando's strategy of reduced borrowings and sustained upstream profitability can eventually offset the heavy financing costs and revitalize the company's pre-tax profitability.",
  "summary": "Oando Plc recorded a pre-tax loss of N74.65 billion for the nine months ended September 30, 2026, compared with a pre-tax profit of N19.46 billion in the corresponding period of 2025, as high net finance costs outweighed a recovery in operating profit. The post Oando records N74.65 billion pre-tax loss in 9M 2026 as finance costs hit N235.23 billion appeared first on Nairametrics .",
  "key_points": [
    "Oando recorded N74.65 billion pre-tax loss in Q3 2026",
    "Finance costs surged to N235.23 billion, outweighing profit recovery",
    "After-tax profit fell to N106.45 billion, down from N201.31 billion"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}