Transcorp Power Reports N91.1bn Profit in Nine Months

Transcorp Power Plc, yesterday published its unaudited nine months ended September 30, 2025 with profit before tax of N91.1billion, about 12...

Transcorp Power Plc, yesterday published its unaudited nine months ended September 30, 2025 with profit before tax of N91.1billion, about 12.4 per cent increase over N81.12 billion reported in nine months of 2024.

The power subsidiaries of Nigeria's leading listed conglomerate, Transnational Corporation Plc posted a profit after tax of N68.42 billion in nine months of 2025, a growth of 17 per cent from N58.4billion in nine months of 2024

T The report filed on the Nigerian Exchange Limited (NGX) revealed that revenue from contracts with customers rose 16.59per cent in nine months of 2025 to N102.7 billion, bringing total revenue for the nine-month period to N308.5 billion, a notable 38.01per cent increase from N223.5 billion declared in nine months of 2024.

Of this, energy delivery accounted for the revenue bulk at N225.6 billion for the nine-month period, followed by capacity charge at N82.9 billion, while ancillary services contributed N13.5 million.

However, the cost of sales climbed to N60.6 billion in Q3, up from N54.6 billion, largely driven by higher natural gas and fuel costs.

Despite this, gross profit surged to N42 billion, compared to N33.4 billion in the corresponding quarter of 2024.

The company also reported other operating income of N107.1 million, while impairment on financial assets rose sharply to N3.8 billion, up 199per cent.

Administrative expenses increased modestly by 13.57per cent to N3.1 billion, yet operating profit still grew to N35.08 billion, up from N29.3 billion.

Although Transcorp Power recorded a foreign exchange loss of N927 million, compared to a N2.4 billion gain in the same period last year, it still achieved a 7.63per cent increase in quarterly pre-tax profit.

On the balance sheet, total assets expanded by 35.26per cent to N536.7 billion, driven mainly by trade and other receivables, which stood at N432.1 billion.

Retained earnings improved to N109.4 billion, up from N78.4 billion, reflecting stronger profitability and reinvestment capacity.

However, total liabilities also rose 39.37per cent to N376.5 billion as of September 30, 2025, with trade and other payables accounting for the largest portion at N260.2 billion.

Commenting on the result and accounts, Chairman of Transcorp Power, Emmanuel Nnorom, in a statement expressed confidence in the company's continued momentum, noting that the third-quarter results reflect both strength and consistency.

"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," Nnorom said.

He attributed the performance to efficient operational strategies and prudent cost management, adding that the company's sustained results will further strengthen investor confidence and reinforce its growth trajectory.

MD/CEO of Transcorp Power, Peter Ikenga, echoed the sentiment, noting that the strong Q3 results reflect higher energy delivery, improved efficiency, and the company's ongoing commitment to creating value for shareholders and stakeholders.

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

"These results illustrate our continuous drive to improve our business operations, eliminating waste and harnessing value. We are confident of finishing the year strong in fulfilment of our mission to improving lives and transforming Africa," he said.

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