Transcorp Power Plc Reports ₦68.4 Billion Profit for Nine Months

Transcorp Power Plc has released its unaudited financial statements for the nine months ended 30 September 2025, reporting a profit after tax of ₦68.42 billion, up from ₦58.42 billion in the corresponding period of 2024.

According to the company’s filings with the Nigerian Exchange Limited (NGX), revenue from contracts with customers increased by 38% year-on-year, rising from ₦223.56 billion in 2024 to ₦308.54 billion in 2025.

Cost of sales climbed to ₦188.87 billion from ₦127.09 billion, while gross profit improved to ₦119.67 billion compared to ₦96.46 billion in the same period last year.

Transcorp Power also recorded ₦91.18 billion profit before tax, up from ₦81.12 billion in 2024.

Q3 2025 Performance Highlights

For the quarter ended July–September 2025, Transcorp Power reported revenue of ₦102.73 billion, representing a 17% increase over the ₦88.11 billion recorded in the same quarter of 2024. Profit before tax stood at ₦32.45 billion, while profit after tax rose to ₦23.81 billion, up from ₦20.50 billion in Q3 2024.

The company also reported a ₦2.62 billion fair value gain on equity investments, bringing total comprehensive income for the nine-month period to ₦71.05 billion. Basic and diluted earnings per share both stood at ₦9.12, up from ₦7.79 a year earlier.

Transcorp Power’s balance sheet remains solid, supported by a diversified energy portfolio and effective asset management practices. The company continues to optimize generation capacity and strengthen grid reliability through strategic investments in plant efficiency and energy delivery infrastructure.

Management Commentary

Chairman, Transcorp Power Plc, Emmanuel Nnorom, commented: “Our performance in the third quarter, building on the positive momentum in the first half of the year, demonstrates Transcorp Power’s resilience and capacity to sustain profitability despite economic challenges. This was supported by efficient operational strategies and prudent cost management.

This sustained performance, in the face of economic headwinds, will further strengthen investor confidence in our capacity to create shared value and maintain our growth trajectory.”

Managing Director/Chief Executive Officer, Transcorp Power Plc, Peter Ikenga, added:

“The Q3 2025 results are underpinned by further growth in energy delivered to the grid, emphasizing our strategic approach that ensures we deliver ever-increasing value to our shareholders and stakeholders.

These results illustrate our continuous drive to improve business operations, eliminate waste, and harness value. We are confident of finishing the year strong, in fulfilment of our mission to improve lives and transform Africa.”

Operational Outlook

Analysts say Transcorp Power’s performance reaffirms its position as one of Nigeria’s most efficiently run generation companies. The company’s consistent quarterly growth highlights disciplined execution and effective cost optimization, even amid grid constraints and rising input costs.

Transcorp Power continues to benefit from its strong affiliation with the Transnational Corporation Group (Transcorp Plc), leveraging synergies across the conglomerate’s energy and hospitality businesses to drive long-term value.

As the company heads into the final quarter of the year, management projects sustained earnings growth driven by increased power generation, improved receivables recovery, and continued operational efficiency.

Summary of Key Financial Highlights

Transcorp Power’s consistent performance in 2025 reflects its strong corporate governance, sound financial discipline, and strategic focus on operational excellence.

The company remains well-positioned to sustain its growth momentum and deliver long-term value to shareholders and stakeholders across the energy value chain.