Eunisell Interlinked Plc has reported a surge in its financial performance for the period ended March 31, 2025, posting a profit after tax of N319.7m, representing a 405 per cent increase compared to N63.3m recorded in the same period of the previous year.
According to the unaudited financial statements released by the company, the growth in profit was driven by a rise in revenue and effective cost management.
For the three months ended March 2025, Eunisell’s revenue stood at N332.3m, up 285 per cent from N247.5m recorded in the corresponding period of 2024. The nine-month revenue for the period July 2024 to March 2025 reached N1.3bn, compared to N339.3m in the same period the previous year, marking a 285 per cent increase.
The company’s gross profit for the three months ended March 2025 also increased by 267 per cent, rising to N137.1m from N99m in the same period in 2024. For the nine-month period, gross profit reached N529.4m, up from N144.3m in the previous year.
Operating expenses for the period more than doubled, increasing by 172 per cent from N23.5m in the first quarter of 2024 to N72.8m for the same period in 2025. For the nine months, operating expenses stood at N177.3m, compared to N65.2m in the previous year.
Despite the rise in operating expenses, Eunisell reported a profit from operations of N64.3m for the three months ended March 2025, although lower than N75.5m in the same period of 2024. For the nine months, profit from operations stood at N352.1m, compared to N79.1m for the same period in 2024.
Finance costs increased significantly by 104 per cent, from N5m in the first quarter of 2024 to N12.4m in the same period in 2025. However, the increase in profit before tax remained robust, climbing to N51.9m for the three months ended March 2025, from N70.5m in the corresponding period of 2024.
The company’s balance sheet shows a marked improvement in its equity position, which rose to N471.8m as of March 2025, from N295.9m at the end of June 2024. Non-current assets stood at N9.8m, while current assets, including inventories and trade receivables, were valued at N928.3m, reflecting strong liquidity and operational efficiency.
The company’s total liabilities for the period stood at N466.8m, with short-term borrowings amounting to N172.3m. Notably, Eunisell did not report any significant tax liabilities for the period.
Cash and cash equivalents stood at N33.4m at the end of March 2025, compared to N1.9m at the start of the year, highlighting a stronger cash position due to the increased profitability.
The PUNCH reported that Eunisell Interlinked Plc has reported a profit before tax of N267m for the six months ending December 31, 2024, marking a turnaround from a loss of N13m in the same period of 2023.
