Transcorp Group Reports ₦50.7bn Profit in Q1 2026

Transcorp Group announced its unaudited results for the first quarter ending March 31, 2026, reporting a profit before tax of ₦50.7 billion, an increase of 3% from ₦49.4 billion in the corresponding period of 2025. Revenue fell to ₦125.1 billion from ₦143.7 billion, reflecting operational headwinds during the quarter.

Earnings per share improved to 216 kobo compared to 192 kobo in Q1 2025. The company's balance sheet showed significant strength, with total equity rising to ₦392.8 billion from ₦353.4 billion in December 2025, and cash and cash equivalents increasing to ₦31.4 billion from ₦21.9 billion.

Transcorp noted a moderate year-on-year revenue performance and improved financial costs, shifting from a net cost position in the prior year to a net income position in the current period. Owen Omogiafo, the Group Chief Executive Officer, emphasized the company's ability to sustain earnings despite operational disruptions, particularly in the power business due to gas supply constraints and infrastructure challenges.