Transcorp Power Posts N32.4bn Q3 2025 Pre-Tax Profit

Transcorp Power Plc has published its third-quarter financial statements, reporting a pre-tax profit of N32.4 billion, a 7.63% increase from N30.1 billion in the same period last year.

This performance lifted pre-tax profit for the nine-month period ended September 30, 2025, to N91.1 billion, up 12.39% year-on-year, supported by strong top-line profitability.

Revenue from contracts with customers rose 16.59% in Q3 to N102.7 billion, bringing total revenue for the nine-month period to N308.5 billion, a notable 38.01% increase year-on-year.

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 199%.

Administrative expenses increased modestly by 13.57% 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 7.63% increase in quarterly pre-tax profit.

Post-tax profit came in at N23.8 billion, up 16.15% year-on-year.

On the balance sheet, total assets expanded by 35.26% 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 39.37% to N376.5 billion, with trade and other payables accounting for the largest portion at N260.2 billion.

Key Highlights (Q3 2025 vs Q3 2024) 

• Revenue: N102.7 billion (+16.59% YoY)
• Cost of Sales: N60.6 billion (+11.10% YoY)
• Gross Profit: N42 billion (+25.56% YoY)
• Operating Profit: N35 billion (+19.38% YoY)
• Pre-tax Profit: N32.4 billion (+7.63% YoY)
• Total Assets: N536.7 billion (+35.26% YoY)
• Retained Earnings: N109.4 billion (+39.40% YoY)

Emmanuel Nnorom, Chairman of Transcorp Power Plc, 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.

Peter Ikenga, MD/CEO of Transcorp Power Plc, 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.