Transcorp Power Plc, one of the power subsidiaries of Nigeria’s leading listed conglomerate, Transnational Corporation Plc (Transcorp Group), has announced a profit before tax of N91.2 billion for the third quarter ended September 30, 2025, as revenue rose by 38 percent year-on-year.
The unaudited financial results released by the company showed that revenue increased to N308.5 billion in 2025, up from N223.5 billion recorded in the corresponding period of 2024. The strong performance was attributed to improved average power generation, reflecting Transcorp Power’s sustained investment in expanding generation capacity and enhancing operational efficiency.
According to the statement signed by Atinuke Kolade, group company secretary of Transcorp Power Plc, the company’s gross profit also grew to N119.7 billion, compared to N96.5 billion recorded in the third quarter of 2024, representing a 24 percent year-on-year increase, with a gross margin of 38.8 percent. Profit before tax climbed to N91.18 billion from N81.12 billion in the same period last year, indicating a growth of 12.4 percent, while profit after tax rose to ₦68.42 billion from N58.4 billion in 2024, a 17 percent year-on-year increase.
Emmanuel Nnorom, chairman of Transcorp Power Plc, described the third-quarter results as a reflection of the company’s resilience and sustained profitability despite economic challenges. He noted that the consistent performance builds on the positive momentum from the first half of the year and is supported by efficient operational strategies and prudent cost management.
“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.
Supported by efficient operations strategies and prudent cost management, this sustained performance, in the face of economic headwinds, will further strengthen investor confidence in our capacity to create shared value and maintain our growth trajectory,” Nnorom stated.
Peter Ikenga, managing director and chief executive officer of Transcorp Power Plc, also expressed optimism about the company’s trajectory, noting that the strong third-quarter results underscore its strategic focus and operational discipline.
He explained that the company’s performance was driven by further growth in energy delivered to the national grid, highlighting Transcorp Power’s commitment to creating increasing value for shareholders and stakeholders. “The Q3 2025 results are underpinned by further growth in energy delivered to the grid, 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 improve lives and transform Africa,” Ikenga said.