Transcorp Power Plc (“Transcorp Power” or the “Company”) (NGX: TRANSPOWER), one of the power subsidiaries of Nigeria’s leading listed conglomerate, Transnational Corporation Plc (“Transcorp Group”), has announced its unaudited financial results for the nine months ended September 30, 2026, reporting ₦83.1 billion in Profit Before Tax (PBT) and an improved PBT margin of 31.2%, compared with 29.6% in the corresponding period of 2025.
MD/CEO, Transcorp Power Plc, Peter Ikenga, said:
“Our Q3 2026 results reflect the embedded resilience of our business regardless of external challenges, including transmission constraints, vandalisation of critical transmission infrastructure, and gas supply limitations. We have relentlessly worked with stakeholders to address broader industry issues. Notwithstanding headwinds, we improved our profit margin, strengthened our balance sheet, increased cash reserves, and remained focused on operational excellence, efficient generation, and long-term value creation for our shareholders.”
Key Highlights
- Revenue: ₦266.1 billion (Q3 2025: ₦308.5 billion)
- Profit Before Tax: ₦83.1 billion (Q3 2025: ₦91.18 billion)
- PBT Margin: 31.2% (Q3 2025: 29.6%)
- Total Assets: ₦629.5 billion (up 11.7%)
- Shareholders’ Funds: ₦199.8 billion (up 8.9%)
- Retained Earnings: ₦147.7 billion (up 11.5%)
- Cash and Cash Equivalents: ₦10.3 billion (up 365%)
Revenue reduced by 13.7% to ₦266.1 billion (Q3 2025: ₦308.5 billion), primarily due to endemic structural factors affecting the Nigerian electricity supply industry, including vandalisation of critical transmission infrastructure, which constrained power evacuation, gas supply constraints and delays in the delivery of critical turbine parts and components due to global supply chain disruption arising from the Middle East crisis.
Despite these challenges, the Company maintained strong operational readiness and plant availability, delivering resilient performance with a Profit Before Tax of ₦83.1 billion and an improved PBT margin of 31.2% (Q3 2025: 29.6%).
The Company also further strengthened its financial position through improved collections, partial settlement of legacy market debts, and the reversal of expected credit loss provisions, reflecting improving liquidity across the electricity market. Total assets increased by 11.7% to ₦629.5 billion, while cash and cash equivalents grew by 365% to ₦10.3 billion.
Chief Finance Officer, Transcorp Power Plc, Dr. Evans Okpogoro, comments:
“Our nine-month results demonstrate strong financial discipline and resilience despite external sector challenges that impacted revenue. We improved our PBT margin to 31.2%, increased cash and cash equivalents by 365% to ₦10.3 billion, and grew shareholders’ funds by 8.9% to ₦199.8 billion. These results highlight the strength of our business, prudent capital management, and our ability to deliver sustainable value despite operational challenges largely beyond our control.”
“Looking ahead, Transcorp Power will continue to pursue growth opportunities, strengthen operational reliability and fuel security, and work across the power value chain to support Nigeria’s increasing energy needs.”
Transcorp Power Plc is one of Nigeria’s principal power generation companies and an electricity-generating subsidiary of Transnational Corporation Plc (“Transcorp Group”), Nigeria’s leading, listed conglomerate, with strategic investments in the power, hospitality, and energy sectors. Transcorp Power is committed to creating value, driving economic growth, and ensuring social goods through power generation.
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