Nigeria: Transcorp Power Grows Profit By 50 Percent to N43.3bn in Q1 2025

28 April 2025
This Day (Lagos)
By Kayode Tokede

Transcorp Power Plc has announced profit before tax of N43.3 billion in first quarter ended March 31, 2025, about 50 per cent increase over N28.8 billion declared in the first quarter of 2024.

One of the power subsidiaries of Africa's leading and listed conglomerate, Transnational Corporation Plc on the Nigerian Exchange Limited declared an impressive growth in revenue, about N105.4 billion in Q1 2025 from N67.9 billion in Q1 2024 (grew by 55 per cent).

This strong performance was primarily driven by an increased available capacity of 625MW compared to 500MW in Q1, 2024. This growth has been achieved notwithstanding the liquidity challenges in the sector, showcasing our commitment to closing the power supply gap in the country.

This substantial growth reflects not only higher revenues but also continued improvements in cost efficiency and operational excellence.

MD/CEO of Transcorp Power, Peter Ikenga, in a statement said,"We delivered a strong performance in Q1 2025, reflecting our disciplined execution, reliable operations, and unwavering focus on efficiency.

"Despite the challenges impacting the sector, we continue to optimise our generating capacity from 500MW in Q1 2024 to 625MW in Q1 2025. We remain firmly committed to delivering long-term value for our shareholders while powering progress across Africa".

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