Geregu Power Plc's Profit Drops 79.85% Despite Q3 Beat

Geregu Power Plc (NGX: GEREGU) announced its unaudited financial results for the nine months ending September 30, 2026, revealing a pre-tax profit of N7.55 billion, a 79.85% decrease from N37.46 billion in the same period of 2025. Revenue for the nine months dropped by 80.71% to N25.35 billion from N131.47 billion, while profit after tax fell by 76.54% to N5.89 billion from N25.10 billion.

In Q3 2026, the company achieved a pre-tax profit of N3.98 billion, surpassing its forecast of N617.01 million by 545.4%, despite a 28.20% revenue shortfall to N6.70 billion. The decline in performance was attributed to reduced electricity sales revenue and increased administrative expenses, which rose by 127.29% to N17.08 billion.

However, a N16.12 billion reversal of impairment losses on financial assets and increased other income contributed positively to earnings. Total assets decreased by 19.62% to N245.16 billion, and shareholders’ equity fell by 28.33% to N42.02 billion.

Geregu Power shares closed at N825.70 on October 30, 2026, down 27.7% year-to-date.