By InvestAdvocate

Lagos (INVESTADVOCATE)- First dual listed Nigerian oil and gas upstream firm, Seplat Petroleum Development Company Plc on Tuesday reported a pretax profit of N65.05 billion in its  third quarter period ended September 30, 2018 compared to a loss before tax of N760 million posted a year a ago; indicating a loss of 8659.61 percent.

Similarly, Seplat reported a post-tax profit of N27.97 billion compared to a loss of N1.62 billion posted in the third quarter period of 2017; still showing a loss of 1826.42 percent.

Revenue of the first dual listed Nigerian oil and gas upstream firm increased 103.91 percent to N173.71 billion from N85.2 billion reported the same period of 2017, Seplat said in a filing with the Nigerian Stock Exchange (NSE).

Shares of Seplat at the close of the session’s trading on the Nigerian bourse depreciated -4.56 percent to N615.50 from N644.90 per share recorded the previous session; declining by N29.40 per share.

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