Transcorp Power Plc (NGX: TRANSPOWER), one of the power subsidiaries of Africa’s leading and listed conglomerate, Transnational Corporation Plc (“Transcorp Group”), said Thursday that it recorded 55 per cent year-on-year increase in revenue, rising from ₦67.9 billion to ₦105.4 billion.
This is its unaudited results for the first quarter ended March 31, 2025.
The company in a statement said: “This strong performance was primarily driven by an increased available capacity of 625MW compared to 500MW in Q1, 2024. This growth has been achieved notwithstanding the liquidity challenges in the sector, showcasing our commitment to closing the power supply gap in the country.”
According to the statement, profit before tax grew by 50 per cent, from ₦28.8 billion in Q1, 2024 to ₦43.3 billion in Q1, 2025.
“This substantial growth reflects not only higher revenues but also continued improvements in cost efficiency and operational excellence,” it added.
Commenting on this development, the MD/CEO of Transcorp Power Plc, Peter Ikenga, comments, “We delivered a strong performance in Q1 2025, reflecting our disciplined execution, reliable operations, and unwavering focus on efficiency. Despite the challenges impacting the sector, we continue to optimise our generating capacity from 500MW in Q1 2024 to 625MW in Q1 2025. We remain firmly committed to delivering long-term value for our shareholders while powering progress across Africa”.