Over-the-counter market operator NASD Plc has reported a pre-tax profit of N129.3 million for the second quarter ended June 30, 2025, marking a recovery from the N29.7 million loss posted in the same period last year.
This lifted its half-year profit to N341.8 million, compared to a N62.4 million loss in the first half of 2024, as activity around unlisted securities increased.
The improvement was largely due to a rise in fees and commissions, which grew to N237.6 million in Q2, up 224.5% from a year earlier.
- Fees and commissions increase may be linked to activity on NASD’s OTC exchange, including transactions involving Okitipupa Oil, Air Liquide, and Geo-Fluids, as well as the listing of InfraCredit’s private placement and the N10 billion Jawa Pharmaceutical commercial paper programme.
Interest income also played a role, rising from N9.8 million to N58.2 million in Q2. For the half year, interest income grew to N106.7 million, up 449%.
Despite higher costs during the quarter, the company recorded an operating profit of N71 million, compared to a loss of N43.3 million in the same period last year.
- On the balance sheet, total assets rose by 7.4% to N1.4 billion, while retained earnings climbed to N526.6 million, representing an increase of nearly 185%.
In a statement, Managing Director and CEO Eguarekhide Longe noted that NASD continues to build services around its unlisted securities platform, including tools like the Enterprise Portal, VentureRamp, Digital Securities Platform, and Commercial Paper Platform, all aimed at supporting business growth.
At an upcoming Annual General Meeting, the board plans to propose a 20 kobo cash dividend per share and a bonus issue of one new share for every five held.
Key Highlights (Q2 2025 vs Q2 2024)
- Fees and commissions income: N237.6 million, up 224.49% YoY
- Employee benefits and compensation costs: N87.7 million, up 49.61% YoY
- Operating income: N71 million, up 263.74% YoY
- Interest income: N58.2 million, up 491.51% YoY
- Pre-tax profit: N129.3 million, up 534.78% YoY
- Retained earnings: N526.5 million, up 184.96% YoY