AIT’S Parent DAAR Communications Bounces Back to First Quarterly Profit in 4 Years

…posts N504.6 million in Q3 as revenue jumps

DAAR Communications Plc, owner of African Independent Television (AIT) and RayPower FM, has reported a profit for the first time in four years as a surge in revenue and lower production costs boosted earnings in the third quarter of 2025, according to a MarketsReporters analysis.

Data from the only listed media company’s latest earnings report shows that it posted a profit of N504.6 million in the three months to September, compared with a loss of N648.8 million in the same period last year. The last time DAAR posted a profit was in Q3 2021 (N123.6 million).

A breakdown of the report revealed that revenue nearly doubled to N1.75 billion, up from N934.9 million a year earlier. Cost of sales fell by 25.5 percent to N602.6 million, contributing to the improved performance. DAAR also booked no impairment charges during the quarter, compared with N228.4 million in Q3 2024, while finance charges declined to N2.12 million from N5.99 million.

Despite the Q3 rebound, the media company reported a loss of N14.5 million for the first nine months of the year, down by 99.2 percent.

The profitability comes as the company continues to reposition under Chairman Raymond Dokpesi Jr., following the passing of founder Raymond Dokpesi in 2023. The elder Dokpesi was regarded as a pioneer of private broadcasting in Nigeria and Africa.

Speaking last year in an interview on the company’s strategic direction, the younger Dokpesi said DAAR was focused on re-energising its brands and business model in response to shifts in the media and entertainment landscape.

However, he noted that regulatory challenges and stalled government policy on broadcast digitisation have weighed on operations and investments.

“There was a very clear digitisation policy by the government when DAAR listed in 2008. This policy has not taken effect till today,” he said. “A lot of investments made to position us at the forefront of that transition have not yielded returns.”

He added that the company continues to engage the National Broadcasting Commission on reforms to help the industry evolve, especially as technology brings convergence across media platforms.