Transcorp Power H1 2026 Results: Revenue, Profit & Margins

Transcorp Power Plc (NGX: TRANSPOWER) has released its unaudited half-year financial results for the period ended June 30, 2026. The company recorded revenue of ₦181.97 billion, down from ₦205.81 billion in H1 2025, while Profit Before Tax declined to ₦54.99 billion from ₦58.73 billion over the same period. Profit After Tax stood at ₦38.50 billion.

Despite the top-line decline, the company reported margin improvements across key metrics. Gross margin expanded to 38.4% from 34.7% in H1 2025, operating margin rose to 30.6% from 28.5%, and Profit Before Tax margin increased to 30.2% from 28.5%.

On the balance sheet, total assets grew 9.9% to ₦619.02 billion from ₦563.48 billion at FY 2025, driven largely by increases in receivables and borrowings. Shareholders' funds rose 3.2% to ₦189.34 billion, while retained earnings increased 6.4% to ₦140.90 billion.

Management attributed the revenue and output constraints to recurring transmission line vandalism, which the company stated materially limited its ability to evacuate available generation capacity during the period.