Transcorp Power Q3 2026 Results: PBT, Margin and Cash Position

Transcorp Power Plc (NGX: TRANSPOWER) has released its unaudited results for the nine months ended September 30, 2026, reporting a Profit Before Tax of ₦83.1 billion, down from ₦91.18 billion in the same period of 2025. Revenue fell 13.7% to ₦266.1 billion from ₦308.5 billion in Q3 2025. The company attributed the revenue decline to transmission infrastructure vandalisation, gas supply constraints, and global supply chain disruptions tied to the Middle East crisis, which affected delivery of turbine parts.

Despite lower revenue, the PBT margin improved to 31.2%, compared with 29.6% in Q3 2025. The company reported a 365% increase in cash and cash equivalents to ₦10.3 billion, which it linked to improved collections, partial settlement of legacy market debts, and the reversal of expected credit loss provisions. Total assets grew 11.7% to ₦629.5 billion, shareholders' funds rose 8.9% to ₦199.8 billion, and retained earnings increased 11.5% to ₦147.7 billion. Management noted the company maintained strong operational readiness and plant availability throughout the period.