Transcorp Power Plc, a leading power generation subsidiary of Transnational Corporation Plc (Transcorp Group), has released its unaudited financial statements for the nine-month period ended September 30, 2026, demonstrating strong financial resilience and earnings discipline despite prevailing industry headwinds.
For the period under review, the company delivered a Profit Before Tax (PBT) of ₦83.1 billion. Driven by effective cost management and operational efficiencies, Transcorp Power successfully expanded its PBT margin to 31.2%, up from 29.6% recorded in the corresponding period of 2025.
The robust profitability was achieved alongside a total revenue of ₦266.1 billion. Management noted that the top-line figure reflected endemic structural challenges within the Nigerian electricity supply industry, including gas supply limitations, delays, and critical transmission infrastructure vandalism that constrained power evacuation.
Despite these operational hurdles, the company maintained strong plant availability and benefited from improved market liquidity, better collections, and the partial settlement of legacy market debts.
These factors contributed to a massive 365% surge in cash and cash equivalents to ₦10.3 billion, while total assets expanded by 11.7% to ₦629.5 billion and shareholders’ funds grew by 8.9% to ₦199.8 billion.
Commenting on the results, Managing Director and CEO Peter Ikenga emphasized the inherent resilience of the business, noting that the team continues to collaborate closely with industry stakeholders to address structural grid challenges while driving operational excellence and long-term value creation.
