Transcorp Power Plc has released its third-quarter (Q3) financial report for 2025, showing a pre-tax profit of N32.4 billion up 7.63% from ₦30.1 billion during the same period in 2024.
Over the first nine months ending September, the company recorded a cumulative pre‑tax profit of N91.1 billion which represents a 12.39% increase year‑on‑year.
In Q3 alone, revenue from customer contracts rose by 16.59% to ₦102.7 billion, while nine‑month revenue totaled ₦308.5 billion (a 38.01% increase over the previous year).
Energy delivery remained the main revenue driver (₦225.6 billion over nine months), followed by capacity charges (₦82.9 billion) and ancillary services (₦13.5 million).
However, costs rose too. Cost of sales climbed to ₦60.6 billion in Q3 (from ₦54.6 billion), fueled by higher natural gas and fuel prices. Still, gross profit jumped to ₦42 billion in Q3 (from ₦33.4 billion).
Other income added ₦107.1 million, while impairment on financial assets surged to ₦3.8 billion (a nearly 199% increase). Administrative expenses increased by 13.57% to ₦3.1 billion, but operating profit still rose to ₦35.08 billion.
One drag on the bottom line was a foreign exchange loss of N927 million, compared with a ₦2.4 billion gain in the same period last year. Nonetheless, net profit after tax stood at N23.8 billion, up 16.15% from Q3 2024.
Total assets ballooned 35.26% to ₦536.7 billion, largely driven by trade and receivables of ₦432.1 billion. Retained earnings improved to ₦109.4 billion (from ₦78.4 billion).
On the liabilities side, total obligations grew by 39.37% to ₦376.5 billion, with trade and payables making up ₦260.2 billion.
Transcorp’s Chairman, Emmanuel Nnorom, and MD/CEO Peter Ikenga expressed confidence in the company’s momentum, crediting strong operations, cost discipline, and robust energy delivery.
