Transcorp Power Reports N54.99bn Profit for H1 2026

Transcorp Power Plc announced an unaudited profit before tax of N54.99 billion for the first half of 2026, reflecting resilience in its operations despite significant challenges, including recurrent transmission line vandalism. The company recorded revenues of N181.97 billion and total assets grew by 9.9% to N619.02 billion by June 30, 2026.

Peter Ikenga, Managing Director and Chief Executive Officer, emphasized the company's commitment to protecting its core values and improving operational performance. Chief Financial Officer Evan Okpogoro detailed that the profit tax settled at N38.50 billion, with gross margin expanding to 38.4% from 34.7% in H1 2025.

The company aims to enhance its operational efficiency and maintain strong profit margins while addressing the issues of vandalism affecting its distribution capabilities. Transcorp Power is optimistic about achieving its long-term objectives and recovering lost ground by the end of the fiscal year 2026.