Transcorp Power Posts ₦94.59bn Revenue, ₦39.59bn Profit in Q1 2026

Transcorp Power Plc has navigated a challenging first quarter of 2026, posting significant revenue and profit figures despite persistent headwinds in Nigeria's power sector. The company's unaudited financial results reveal a revenue of ₦94.59 billion and a profit before tax of ₦39.59 billion for the period ending March 31, 2026.

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The challenges reduced the average power supplied to the national grid to 4,172 megawatts, down from 4,785 megawatts in the same period last year.

While these numbers represent a decrease from the corresponding period in 2025, they underscore the company's resilience. Managing Director and CEO Peter Ikenga attributed the moderated earnings to critical issues such as gas supply constraints and the vandalism of transmission infrastructure. These problems directly impacted power generation and distribution, reducing the average power supplied to the national grid.

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The company maintained strong profitability margins and continued balance sheet expansion despite external pressures.

Despite these external pressures, Transcorp Power demonstrated robust financial health across its balance sheet. Total assets grew to ₦613.42 billion, shareholders' funds increased to ₦214.96 billion, and liquidity saw a substantial improvement, with cash and cash equivalents rising significantly. Chief Finance Officer Dr. Evans Okpogoro highlighted the company's disciplined capital management and focus on cost optimization as key factors in maintaining strong profitability margins and expanding its financial flexibility. The company remains committed to addressing the sector's challenges and leveraging improvements for future growth.

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Improved liquidity enhances the company’s financial flexibility, while its earnings position underscores resilience in a challenging environment.