Conoil profits plummet over 75% despite N301bn revenue

Conoil reports weakest profit in five years on rising finance costs - Businessday NG

Conoil's net profit plunged 75.2% to N2.18B as interest costs surged 172.7% amid rising debt. Operating cash flow collapsed 97%, signaling how rising rates and working capital pressure strain capital-intensive businesses in emerging markets.