Conoil Plc has posted a seven per cent growth in its profit after tax, which stood at N1.7bn in the third quarter of the year, compared with the N1.59bn recorded in the same period of 2018.

The company’s financial statement, which was made available to the Nigerian Stock Exchange on Monday, showed a 49 per cent increase in revenue.

The revenue for the period increased from N75.8bn in Q3 2018 to N112.7bn in Q3 2019.

The company’s earnings per share also increased to N2.45 per share from N2.29 in 2018 as net assets per share also increased to N26.82 from N26.07.

An analysis of the company’s financial statement showed a decline in total assets from N60.9bn in December 2018 to N53.9bn.