Aradel Holdings posts N728bn Q1 revenue

Integrated energy giant, Aradel Holdings Plc, has released its unaudited consolidated financial statements for the first quarter ended 31 March 2026, showcasing an unprecedented financial performance that completely surpasses its previous records.

The group’s revenue skyrocketed to a staggering N728.52bn, representing a phenomenal 264.5 per cent surge compared to the N199.87bn reported in the corresponding period of 2025.

This was contained in the company’s corporate filing to the Nigerian Exchange Limited on Monday.

The stellar growth trickled down to its profitability metrics, with the group posting a profit before taxation of N283.84bn, rising significantly by 322.5 per cent from N67.17bn in Q1 2025.

Following a tax expense deduction of N163.55bn, net profit after tax tripled to N120.29bn, up from N34.20bn in the previous year.

Along with these bottom-line gains, gross profit rose to N256.28bn from N78.89bn, while operating profit advanced significantly to N372.92bn from N63.56bn.

Consequently, basic and diluted earnings per share doubled to N15.24 per share, up from N7.77 per share in Q1 2025.

Reacting to the stellar Q1 results, the Chief Executive Officer, Adegbite Falade, remarked, “These numbers reflect a monumental shift in our production and operational efficiencies. Our strategic expansion into diversified energy segments has fully paid off, and we are proud to say our records have been broken across all core business lines.

“The resilience of our operational model positions us to secure long-term value for all stakeholders as we navigate the rest of the 2026 financial year.”

The performance was further bolstered by a massive jump in other income, which brought in N208.88bn against N614.07m in the prior year, cushioning the impact of rising production expenses.

The cost of sales for the period rose to N472.24bn from N120.98bn, tracking higher production volumes and broader operating requirements across its fields.

Reviewing the company’s financial discipline, the Chief Financial Officer, Adegbola Adesina, stated, “Managing explosive topline growth requires rigorous internal cost systems and careful liquidity optimisation.

“Our cash and cash equivalents grew comfortably to N1.60tn, up from N1.50tn at the close of December 2025, reinforcing our capability to self-fund major upcoming downstream and upstream initiatives without unnecessary leverage.”

Total assets for the group stood at N9.06tn as of 31 March 2026, while shareholders’ equity remained highly robust at N1.89tn, reflecting strong retained earnings despite distribution outlays.

With the basic earnings per share now standing at N15.24, market analysts anticipate increased buying sentiment from domestic and institutional investors on the floor of the Nigerian Exchange Group.