By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s oil marketing firm, Conoil Plc said on Friday its third quarter (Q3) profit for the period declined 32 percent to N1.427 billion from N2.088 billion declared in the same period of 2013, the company said in a filing with the Nigerian Stock Exchange (NSE).

Similarly, the oil marketer posted a drop in profit before tax (PBT) of N2.098 billion compared to N3.084 billion in the Q3 of 2013; indicating the same margin drop of 32 percent.

In the same vein, gross profit of the company dipped 12 percent to N10.795 billion from N12.224 billion in the corresponding period of 2013.

Conoil reported a revenue of N104.223 billion in the Q3 of 2014 compared to N121.803 billion in the same period of 2013; showing a decrease of 14.43 percent.

Earnings per share also went down 31.56 percent to N206 from N301 recorded in the nine months period of 2013.