NNPC, which became a commercial company in July, first declared a net profit in its 44-year history two years ago.
"The performance would have been greater if the operations in the year under review were free from incessant vandalism, crude oil and products theft among others," NNPC said in a statement accompanying its results.
Oil production in Nigeria has fallen due to theft of crude oil, hitting its export earnings.
NNPC runs joint venture operations with major oil companies and said in July it would be ready for an initial public offering by mid next year, as it seeks to sell shares to the public.
$1 = 435 naira
(Reporting by Camillus Eboh, writing by MacDonald Dzirutwe, editing by Andrew Heavens and Jane Merriman)
