Transcorp Power Reports ₦83.1 Billion Profit Amid Challenges

Transcorp Power Plc, a subsidiary of Transnational Corporation Plc, reported a profit before tax of ₦83.1 billion for the nine months ended September 30, 2026. This represents a decrease from ₦91.18 billion in the same period of 2025, while the profit before tax margin improved to 31.2% from 29.6%.

Revenue declined by 13.7% to ₦266.1 billion, attributed to structural challenges in Nigeria's electricity sector, including vandalism of transmission infrastructure, gas supply limitations, and global supply chain disruptions. Despite these challenges, Transcorp Power maintained operational readiness and improved its financial position, with total assets increasing by 11.7% to ₦629.5 billion and shareholders' funds rising by 8.9% to ₦199.8 billion.

Cash and cash equivalents surged by 365% to ₦10.3 billion. Peter Ikenga, Managing Director and CEO, emphasized the company's resilience and focus on operational excellence.

Dr Evans Okpogoro, Chief Finance Officer, noted the financial discipline reflected in the results.