Transcorp Power Posts N83bn Profit in Q3, Boosts Margin
Transcorp Power Plc delivered N83.1 billion pretax profit in the nine months results in the financial year 2026, boosting the company’s margin higher amidst Nigerian energy sector challenges.
One of the power subsidiaries of Nigeria’s leading listed conglomerate, Transnational Corporation Plc, announced its unaudited financial results, reporting that its pre-tax margin improved to 31.2%, compared with 29.6% in the corresponding period of 2025.
The result showed that Transcorp Power revenue printed at N266.1 billion from N308.5 billion in the equivalent period in 2025. This resulted in N83.1 billion profit before tax, down from N91.18 billion, though margin increased to 31.2% from 29.6%
The company said its revenue reduced by 13.7% to N266.1 billion, primarily due to endemic structural factors affecting the Nigerian electricity supply industry, including vandalisation of critical transmission infrastructure.
Management said these issues 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.
Transcorp Power said despite these challenges, the Company maintained strong operational readiness and plant availability, delivering resilient performance with a Profit Before Tax of N83.1 billion and an improved PBT margin.
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.
The electricity generating company reported in its financials that its total assets increased by 11.7% to N629.5 billion, while cash and cash equivalents grew by 365% to N10.3 billion.
Commenting on the result, MD/CEO, Transcorp Power Plc, Peter Ikenga, comments: “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 “
Also, Chief Finance Officer, Transcorp Power Plc, Dr. Evans Okpogoro, said: “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 N10.3 billion, and grew shareholders’ funds by 8.9% to N199.8 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 Hotels Grows Profit by 5% to N15.542bn in 9M 2026
