MRS Oil recorded a near twofold surge in income from petrol, its main earnings source.
Oil marketer
MRS Oil noted a near twofold surge in income from petrol, its main earnings source, as driving up revenue, which jumped to N72 billion from N42 billion a year ago.
Other income grew 164.5 per cent to N1.4 billion while finance income jumped from N8.9 million to N33.3 million, both aiding the recovery from a descent to loss four years ago.
Pre-tax profit for the period was N325 million, 716 per cent higher than a loss of N2.7 billion reported the preceding year.
Post-tax profit stood at N339.9 million, compared to a loss after tax of N2.3 billion for 2020.
The board said in a separate statement on Thursday it is proposing a bonus issue of one new share for every eight shares held by shareholders, whose names appear in the company's register of members by 1st July.
"The Register of Members will be closed from
In early February, the oil marketing firm debunked the allegation regarding its involvement in the importation of sub-standard fuel into the country, which sparked up a nationwide fuel scarcity.
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