Transcorp Power Plc (NGX: TRANSPOWER), a key subsidiary of Africa’s leading conglomerate, Transnational Corporation Plc (“Transcorp Group”), has announced its unaudited financial results for the first quarter ending March 31, 2025. The report highlights significant advancements in both revenue and profit, reflecting the company’s robust operational strategy in a challenging market.
Key Highlights:
Robust Revenue Growth
- Transcorp Power achieved an impressive 55% year-on-year increase in revenue, soaring from ₦67.9 billion in Q1 2024 to ₦105.4 billion in Q1 2025.
- This growth is largely attributed to an increase in available capacity, which rose to 625MW from 500MW in the same quarter last year. This expansion underscores the company’s commitment to bridging the power supply gap in Nigeria, despite ongoing liquidity challenges in the sector.
Significant Growth in Profit Before Tax
- The company reported a 50% increase in profit before tax, climbing from ₦28.8 billion in Q1 2024 to ₦43.3 billion in Q1 2025.
- This notable improvement reflects not only higher revenues but also enhanced cost efficiency and operational excellence.
Leadership Commentary
Peter Ikenga, Managing Director/CEO of Transcorp Power Plc, stated:
“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.”
Transcorp Power’s results signal a promising start to 2025, positioning the company as a leader in Nigeria’s energy sector and reaffirming its dedication to sustainable growth and innovation.
