Geregu Power Plc and its counterpart in the generation and sales of electric power, Transcorp Power Plc, saw revenues grow year-on-year to ₦439.97 billion in the third quarter (Q3) of the year.
The two-generation companies (GenCos) stated in their unaudited Q3 financial results for the period ended September 30, 2025.
Their revenues grew by 30.91 per cent, from ₦336.08 billion posted in the same period of 2024.
While they reported strong performances in their profit lines, Geregu Power maintained stronger financial health compared to Transcorp Power.
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Its gross profit margin rose to 59.69 per cent from 51.46 per cent compared to Transcorp Power’s gross profit margin, which plunged to 38.8 per cent from 43.18 per cent.
Gross profit margin, financial experts say, is one of the key metrics that analysts and investors use to assess a company’s financial health and efficiency.
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According to Investopedia, an online research financial firm, companies use gross profit margin to identify areas for cost-cutting and sales improvement.
A high gross profit margin indicates efficient operations, and a low margin suggests areas needing improvement.
Geregu Power’s performance metrics
Geregu Power grew revenue to ₦131.47 billion from ₦112.58 billion, representing a 16.78 per cent increase.
Its gross profit inched up to ₦78.47 billion from ₦57.93 billion and represents a 35.46 per cent increase, with the gross profit margin rising to 59.69 per cent.
The company also reported a slight increase in profit before tax (PBT) by 3.31 per cent to ₦37.46 billion from ₦36.26 billion and profit after tax (PAT) to ₦25.1 billion from ₦24.19 billion.
Transcorp Power’s key performance
Transcorp Power, one of the power subsidiaries of Nigeria’s leading listed conglomerate Transnational Corporation, saw a 38 per cent rise in revenue to ₦308.5 billion compared to ₦223.5 billion in Q3 2024.
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Its gross profit increased by 24 per cent to ₦119.7 billion, up from ₦96.5 billion in 2024, resulting in a gross margin of 38.8 per cent.
Its PBT climbed to ₦91.18 billion from ₦81.12 billion in Q3 2024, representing a growth of 12.4 per cent, even as its PAT rose to ₦68.42 billion from ₦58.4 billion, representing a year-on-year growth of 17 per cent.
Transcorp Power said its Q3 2025 performance was driven by an increase in average power generation, reflecting Transcorp Power’s continued investment in improving generation capacity and operational excellence.
In a statement on Monday, October 13, the company’s chairman, Emmanuel Nnorom, commented, “Our performance in the third quarter, building on the positive momentum in the first half of the year, demonstrates Transcorp Power’s resilience and capacity to sustain profitability, despite economic challenges, supported by efficient operations strategies and prudent cost management.
“This sustained performance, in the face of economic headwinds, will further strengthen investor confidence in our capacity to create shared value and maintain our growth trajectory.”
Its Managing Director/Chief Executive Officer (CEO), Peter Ikenga, added, “The Q3 2025 results are underpinned by further growth in energy delivered to the grid, and we are emphasising our strategic approach, which ensures we deliver ever-increasing value to our shareholders and stakeholders.
“These results illustrate our continuous drive to improve our business operations, eliminating waste and harnessing value. We are confident of finishing the year strong in fulfilment of our mission to improve lives and transform Africa.”
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
