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 remarkable turnaround from the N29.7 million loss recorded in the same period last year.
The company’s H1 2025 performance also reflects the momentum, as NASD posted a N341.8 million profit for the first half of the year. This is a sharp contrast to a N62.4 million loss in the corresponding period of 2024, driven largely by a surge in investor interest in unlisted securities and increased market activity on the NASD OTC exchange.
The standout performer for the quarter was fees and commissions, which soared to N237.6 million, representing a 224.5% year-on-year increase. This impressive growth is attributed to a spike in transactions involving key firms like Okitipupa Oil, Air Liquide, and Geo-Fluids, as well as listings such as InfraCredit’s private placement and the N10 billion Jawa Pharmaceutical commercial paper programme.
Another strong revenue stream was interest income, which jumped to N58.2 million in Q2 2025, up from just N9.8 million in the same quarter of 2024. For the half-year period, interest income rose to N106.7 million, reflecting a 449% increase.
Despite rising operational expenses particularly a 49.61% increase in employee compensation costs to N87.7 million operating income reached N71 million, recovering from a N43.3 million loss recorded in Q2 2024.
On the balance sheet side, total assets increased by 7.4% to N1.4 billion, while retained earnings surged 185% to N526.6 million. This financial strength has prompted NASD’s board to propose a 20 kobo cash dividend per share, alongside a bonus share issuance of one new share for every five currently held. These proposals will be discussed at the company’s upcoming Annual General Meeting.
CEO Speaks on Strategy
In a statement, NASD Managing Director and CEO Eguarekhide Longe emphasized the company’s continued investment in services that strengthen its OTC platform. He highlighted products like the Enterprise Portal, VentureRamp, Digital Securities Platform, and Commercial Paper Platform as key drivers of business and market support.
“We are deliberately building infrastructure around the unlisted securities space to support capital formation and private sector growth in Nigeria,” Longe said.
Q2 2025 Financial Highlights (YoY Growth)
- Fees and commissions: N237.6 million (+224.5%)
- Interest income: N58.2 million (+491.5%)
- Operating income: N71 million (+263.7%)
- Pre-tax profit: N129.3 million (+534.8%)
- Retained earnings: N526.6 million (+185%)
- Employee compensation: N87.7 million (+49.6%)
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