Transcorp Power Reports ₦94.59bn Revenue in Q1 2026

Transcorp Power Plc announced its unaudited financial results for the first quarter ending March 31, 2026, reporting a revenue of ₦94.59 billion and a profit after tax of ₦39.59 billion. This represents a decline from ₦105.44 billion in revenue and ₦43.28 billion in profit after tax for the same period in 2025.

Despite these challenges, the company demonstrated notable growth in its balance sheet, with total assets increasing to ₦613.42 billion from ₦563.48 billion in December 2025. Shareholder funds rose to ₦214.96 billion, and retained earnings climbed to ₦162.10 billion.

The company's cash and cash equivalents improved significantly, rising to ₦10.40 billion compared to ₦2.22 billion at the end of 2025. Managing Director and Chief Executive Officer Peter Ikenga highlighted ongoing operational challenges, particularly gas supply constraints and vandalism of transmission infrastructure.

Chief Financial Officer Dr. Evan Okpogoro noted the company's focus on cost optimization and prudent risk management to maintain strong profit margins and financial flexibility.