Geregu Power Forecasts N9.2bn Profit for Q2

Geregu Power Plc is expecting more than N9.2 billion as net profit in the second quarter of financial year 2024 versus N1.006 billion as net operating cash flow expected to be generated from its operating activities.

In a statement signed by its chief executive officer, Akin Akinfemiwa, the company expects revenue to print at N38.172 billion in the period. The power generating company said its cost of sales has been estimated at N17.373 billion, leaving Geregu Plc with N20.799 billion as gross profit.

The company stated that about N6.5 billion projected administrative expense is expected to reduce its operating profit to N14.306 billion in the second quarter. For Geregu Power, net finance income is expected to be negative in the period, leaving the estimated pretax profit at N14.007 billion.

The power-generating company forecasted a tax provision of about N4.8 billion. At the end of the period, Geregu Power said its operating cash flow before working capital change is expected to settle at about N15.7 billion.

In the stock market, Geregu Power Plc’s market valuation climbed to N2.5 trillion from N100 in Oct 2022 when the company listed 2.5 billion at N100 per share. Its share price closed at N1000 over the last seven trading sessions ahead of Q1 earnings release. #Geregu Power Forecasts N9.2bn Profit for Q2

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