By InvestAdvocate

Lagos (INVESTADVOCATE)-Oil marketer, Conoil Plc said on Wednesday, its pretax profit for the nine month period ended September 30, 2015 dropped 16.13 percent to N1.760 billion from N2.099 billion recorded a year ago.

Similarly profit after tax (PAT) of the company declined same margin of 16.13 percent to N1.197 billion from N1.427 billion posted the same period of 2014.

Revenue of Conoil depreciated from N104.224 billion to N60.157 billion in the review period; indicating a significant drop of 42.28 percent, the company said in a filing with the Nigerian Stock Exchange (NSE).