Chellarams has returned to profitability, reporting a profit after tax of N1.45 billion, driven by an 84% jump in revenue.
The turnaround marks a significant shift for the conglomerate, which had previously struggled with margins amid broader economic headwinds in Nigeria.
In a separate development, energy firm Oando reported a substantial improvement in its financial position, cutting its first-half pre-tax loss by 77%.
In a separate development, energy firm Oando reported a substantial improvement in its financial position, cutting its first-half pre-tax loss by 77%.
The company also returned to profitability in the second quarter, signaling a stabilization in its core operations after a period of volatility.
These results emerge as the Nigerian equities market extends a broad-based rally, adding N1.58 trillion in value on Wednesday.
Investors have returned to the market following several consecutive sessions of declines, suggesting growing confidence in the domestic economic outlook.