Transcorp Power has released Q1 2025 Unaudited Financials.
NewsOnline Nigeria reports that Transcorp Power Plc (NGX: TRANSPOWER), a key subsidiary of Transnational Corporation Plc (Transcorp Group), has announced its unaudited financial results for the first quarter ended March 31, 2025, recording substantial year-on-year growth across key performance metrics.
The power firm posted a 55% increase in revenue, rising from ₦67.9 billion in Q1 2024 to ₦105.4 billion in Q1 2025. This performance was underpinned by a significant boost in available capacity, which climbed from 500MW to 625MW, despite persistent liquidity challenges in Nigeria’s power sector.
ALSO: Polaris Bank Pledges Continuous Partnership With NDLEA to Combat Drug Abuse, Trafficking, and Money Laundering
Profit before tax also saw a notable 50% increase, growing from ₦28.8 billion in Q1 2024 to ₦43.3 billion in the reporting period. The result reflects the company’s continued focus on cost efficiency and operational effectiveness.
Commenting on the results, Peter Ikenga, Managing Director/CEO of Transcorp Power Plc, 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. We remain firmly committed to delivering long-term value for our shareholders while powering progress across Africa.”
Transcorp Power’s strong first-quarter results reinforce its position as a major player in Nigeria’s power industry and underline its commitment to bridging the country’s energy gap.