Legend Internet PLC (NGX: LEGENDINT) has released its unaudited financial statement for the third quarter ending April 30, 2025.
For the 3-month period, Legend Internet PLC generated a total revenue of ₦319.91 million, a slight increase from ₦312.99 million in the same period of 2024.
According to the report, Legend Subscriptions accounted for ₦300.15 million of the total revenue, while Installation Revenue brought in ₦7.19 million. Wholesale Bandwidth Sales contributed ₦12.58 million of the revenue.
The company recorded a gross profit of ₦214.18 million, an increase from ₦177.31 million in the same period in 2024 due to reduced cost of sales.
However, the administrative expenses for the quarter rose sharply to ₦122.63 million, from ₦46.42 million recorded in the same period in 2024.
Legend’s profit before tax declined to ₦52.21 million, from ₦90.86 million in Q3 2024 due to increases in operating expenses.
Similarly, the profit after tax, for the quarter dropped to ₦32.89 million, from ₦72.08 million in the same quarter of 2024. The company paid ₦19.32 million in taxes during the quarter.
Legend Internet PLC total assets stood at ₦3.28 billion, as of April 30, 2025.
The total assets comprises of N2.76 billion non-current sssets and ₦523.68 million.
The company’s total liabilities amounted to ₦334.64 million, all of which were current. The liabilities include
- Short-term loans: ₦55.81 million
- Accruals and trade payables: ₦115.91 million
- Current tax liabilities: ₦162.92 million
The company did not report any long-term loans or lease obligations.
Legend reported a net positive cash flow of ₦41.67 million during the quarter:
- Net cash used in operations: ₦(4.52 million) due to working capital increases
- Net investing outflow: ₦(3.82 million) for infrastructure upgrades
- Net financing inflow: ₦50 million from a short-term loan facility
- Ending cash and cash equivalents stood at ₦26.96 million.
Investors however, seem not be pleased by the company’s financial performance as the share price lost 9.49 percent to close at N5.34 per share on the Nigerian Exchange today.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
