eTranzact International Plc, a publicly listed Nigerian payment company, has exceeded its profit after tax (PAT) target of N365 million by recording N830.2 million in the first quarter of the 2025 financial year.
The switching and payment company had earlier projected a PAT of N365 million and revenue of N2.2 billion for the period. However, it reported a revenue of N6.5 billion, down from N7.04 billion in Q1 2024, but significantly above its projection.
The Q1 2025 profit represents a 57 percent increase compared to the N528.1 million posted in the same period of 2024.
eTranzact had also projected a profit before tax of N521.09 million but reported a much higher N1.18 billion. Its tax expenses reached N355.8 million, 127 percent higher than the N156 million initially projected.
According to its financial statement, the company’s cost of sales stood at N3.4 billion, a reduction from N5.05 billion in Q1 2024, though still well above the projected N291.5 million. Gross profit rose to N3.1 billion, 63 percent higher than the company’s expectation of N1.91 billion.
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Finance costs remained relatively stable at N5.6 million, compared to N5.4 million in the same quarter of the previous year.
In addition to its financial performance, eTranzact recently deepened its regulatory commitment by partnering with the Nigerian Financial Intelligence Unit (NFIU) to conduct compliance training sessions.
Facilitated by the NFIU, the sessions focused on key regulatory priorities including Know Your Customer (KYC) procedures, Ultimate Beneficial Ownership (UBO) transparency, and timely reporting of suspicious transactions.
“Compliance is not an afterthought; it is woven into the very architecture of our operations,” said Niyi Toluwalope, Managing Director of eTranzact Plc.
This partnership complements eTranzact’s recent enhancements to its compliance framework, which include the deployment of an automated anti-money laundering (AML) transaction monitoring system and stricter oversight of high-risk customers, including Politically Exposed Persons.
“Our systems are built for adaptability and scalability,” said Edward Onyenweaku, Chief Risk and Compliance Officer at eTranzact.
“We are leveraging both technology and policy to ensure that regulatory shifts don’t catch us off guard. This training only sharpens that edge.”
The NFIU collaboration also helped the firm identify operational gaps and strengthen compliance across its network.
