Nigerian Exchange Group Plc recorded an 86.4% increase in profit after tax to N14.69 billion for the nine months ended September 30, 2026, compared with N7.88 billion in the corresponding period of 2025.
The group disclosed the performance in its unaudited financial statements approved by the Board of Directors on October 20, 2026.
Revenue increased by 79.8% to N27.26 billion from N15.16 billion, representing an additional N12.10 billion during the period.
Total income rose by 64.8% to N29.57 billion from N17.95 billion, while operating profit increased by 73.5% to N14.87 billion from N8.57 billion.
The earnings growth came despite a 56.8% increase in operating expenses to N14.71 billion from N9.38 billion.
Personnel expenses rose to N7.40 billion from N4.29 billion, while other operating expenses increased to N6.68 billion from N4.68 billion.
NGX Group also recorded higher earnings from equity-accounted investees, with its share of profit increasing by 69.6% to N5.72 billion from N3.37 billion.
The contribution supported a rise in profit before tax to N20.58 billion from N11.23 billion, representing an increase of 83.3%.
However, the group’s third-quarter performance showed a different trend as profit after tax declined by 7.1% to N4.33 billion from N4.66 billion in the corresponding quarter of 2025.
Revenue for the July-to-September period increased by 36.4% to N9.66 billion from N7.08 billion, but operating profit declined to N4.25 billion from N4.41 billion.
The quarterly earnings decline coincided with a substantial increase in personnel expenses, which more than doubled to N3.38 billion from N1.63 billion.
Beyond earnings, NGX Group’s total assets increased by 11.4% to N79.11 billion as of September 30, 2026, compared with N71.05 billion at the end of December 2025.
Shareholders’ equity rose to N61.07 billion from N55.20 billion, supported by retained earnings of N54.65 billion.
The group’s current investment securities increased to N10.86 billion from N1.70 billion, while cash and cash equivalents declined to N1.61 billion from N2.55 billion.
The financial results reflect strong revenue expansion and higher investment-related earnings during the nine-month period, although rising operating costs weighed on profitability in the third quarter.