Transcorp Power Reports Resilient H1 2026 Financial Results

Transcorp Power Plc released its financial results for the first half of 2026, reporting revenues of ₦181.97 billion, a decrease from ₦205.81 billion in the same period of 2025. The profit after tax also declined to ₦54.99 billion from ₦58.73 billion year-on-year.

Despite these lower figures, the company improved its balance sheet, with total assets rising by 9.9% to ₦619.02 billion and shareholders' funds increasing by 3.2% to ₦189.34 billion. Retained earnings grew by 6.4% to ₦140.90 billion, reflecting ongoing value creation.

Peter Ikenga, Managing Director and Chief Executive Officer, emphasized the company's resilience amid significant operational challenges, particularly due to recurring vandalism of transmission lines that constrained power evacuation. Dr. Evan Okpogoro, Chief Financial Officer, noted that the company's operational efficiency improved, with gross margin rising to 38.4% and operational margin to 30.6%.

The company remains committed to collaborating with stakeholders to address infrastructure issues and enhance power supply reliability.