By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)- First listed Nigerian oil and gas upstream firm, Seplat Petroleum Development Company Plc said on Thursday its 2014 third quarter (Q3) profit after tax (PAT) went down 48.5 percent to N35.398 billion from N68.680 billion in the Q3 of 2013.

Also, the company in a filing to the Nigerian Stock Exchange reported its profit before tax (PBT) decreased from N54.281 billion in the nine months period of 2013 to N35.398 billion in the review period of 2014.

Revenue of the upstream oil and gas company depreciated 7.9 percent to N92.007 billion from N99.854 billion in the Q3 of 2013.

The company lost 0.41 kobo at the end of trading on the Nigerian bourse as its share price opened sales at N545.00 and closed N544.59 dropping 0.08 percent.