• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, June 28, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Transcorp Power Grows Pre-tax Profit To N28.77bn In Q1

by Olushola Bello
1 year ago
in Business
Transcorp
Share on WhatsAppShare on FacebookShare on XTelegram

Transcorp Power Plc has declared profit before tax(PBT) of N28.77 billion in its first quarter (Q1), 2024.

Advertisement

The company’s Q1 unaudited financial statements released on the Nigerian Exchange demonstrated impressive financial performance, even as it recorded N67.86 billion in gross earnings, compared to N21.04 billion reported in Q1 2023, reflecting a significant increase of 223 per cent.

Profit before tax rose by 775 per cent, amounting to N28.77 billion in Q1 2024, compared to N3.29 billion in the same period last year, while profit after tax grew by 665 per cent year-on-year to N20billion in Q1 2024, compared to N2.6 billion in the same period last year.

Total assets for the period under review grew to N276.2 billion in Q1 2024, up from N223.3 billion in Q4 2023.

Speaking on the financial highlights, the chief financial officer of Transcorp Power, Evans Okpogoro said: “the Q1 2024 results saw a gross margin of 51 per cent, a cost to income ratio of 70 per cent and net profit margin of 30 per cent compared to Q1 2023 gross margin of 37 per cent, cost to income ratio of 87 per cent and net profit margin of 13 per cent.

RELATED

Top Home Teams with Highest Win Rates: Who To Bet On

Top Home Teams with Highest Win Rates: Who To Bet On

1 hour ago
Diadem Group CEO Olaitan Gbenga Honoured In Zambia

Diadem Group CEO Olaitan Gbenga Honoured In Zambia

6 hours ago

“This highlights the remarkable operational efficiency gains of the Company. Transcorp Power has continued to grow its revenue aggressively and consistently over the last five years. We expect that by year end 2024, we will see a similar growth trajectory recorded between FY 2022 and FY 2023.”

The MD/CEO, Transcorp Power, Peter Ikenga, stated that, “we are pleased to report further robust financial performance, despite sectoral challenges such as gas supply issues and macroeconomic challenges.Our ability to sustain growth amidst this environment shows the resilience of our business model and the efficient execution of our strategic initiatives.”

“We remain committed to leveraging our strengths to capitalise on emerging opportunities, drive sustainable growth and provide superior value.

to all our stakeholders. We will continue to prioritise ingenuity, operational excellence, corporate governance, and stakeholder engagement, to deliver superior value for our long-term growth,” he added.

 

Transcorp Power is an electricity generating subsidiary of Transnational Corporation Plc (Transcorp Group), one of Africa’s leading, listed companies, with strategic investments in the power, hospitality, and energy sectors.

 

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Transcorp Power
SendShareTweetShare
Previous Post

PalmPay Unveils First Set of iPhone 15 Pro, Winners in Promo

Next Post

FG, MOJEC Partner To Close 8m Metering Gap

Olushola Bello

Olushola Bello

You May Like

Top Home Teams with Highest Win Rates: Who To Bet On
Special Report

Top Home Teams with Highest Win Rates: Who To Bet On

2025/06/28
Diadem Group CEO Olaitan Gbenga Honoured In Zambia
Business

Diadem Group CEO Olaitan Gbenga Honoured In Zambia

2025/06/28
Nigeria’s Wealthy Evade Taxes Amid Rising Inequality: Oxfam Report
Business

New Tax Law: Industrialists Project N3.2trn Increase In Non-oil Revenue

2025/06/28
Celebrating President Tinubu’s Remarkable Two Years In Office
Business

Tinubu Confers GCON Honour On Oramah

2025/06/28
Investors Gain N1.43trn From Stocks In 1 Week
Business

Investors Gain N1.43trn From Stocks In 1 Week

2025/06/28
Stakeholders Prepare For 7th Africa Procurement, Supply Chain Summit In Lagos
Business

Stakeholders Prepare For 7th Africa Procurement, Supply Chain Summit In Lagos

2025/06/28
Leadership Conference advertisement

LATEST

‘Yar’Adua Wanted Me To Oversee Nigeria But One Aide Withheld The Letter’, Johnathan Reveals

SEDC Congratulates Oramah On Tenure Completion At Afreximbank, GCON Award

Dantata’s Death An Earthshaking Loss To Africa — Atiku

Cameroonian Elombi Emerges New Afreximbank President

APC Govs Restate Demand For Community Policing

Top Home Teams with Highest Win Rates: Who To Bet On

Fear Of Arrest Kept 80% Candidates Away From Mop-up Exam, Says JAMB Registrar

Customs CG Elected WCO Council Chairman In Brussels

Niger North Senator Mourns Dantata, Hails Late Billionaire’s Legacy

Dantata’s Death, A Monumental National Loss — Tinubu

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.