By InvestAdvocate

Lagos (INVESTADVOCATE)-MRS Oil Nigeria Plc (MRS) Monday posted a dip of 64.7 percent (-64.7%) in Profit After Tax (PAT) in its First Quarter (Q1) Report for the Period Ended March 31 2012.

From the Result Announcement to the Nigerian Stock Exchange (NSE) and made available to www.investadvocateng.com, MRS to record the dip declared N123.272 million in the review period compared to N349.070 million in the same period of year 2011.

Similarly, Profit Before Tax (PBT) declined from N688.651 million the First Quarter of Year 2011compared to N236.510 million in the corresponding period of year 2012; indicating a decline of 65.7%.

However, Turnover increased slightly from N17.582 billion in the Q1 of 2011 compared to N19.177 billion in the review period of year 2012.

In the same vein, Secure Electronics Technology Plc recorded a Loss of N29.333 million in the Q1 of 2012 compared to N7.869 million recorded in the same period of 2011; representing a Loss of -472.7%.

The Firm also recorded the same Loss in its Profit Before Tax for the review period; as it posted N7.869 million in the Q1 of 2012 compared to a Loss of N29.333 million.

While it’s Turnover increased from N762.787 million in the First Quarter of 2011 to N1, 032 billion in the same period of 2012.