Transcorp Power posted a 164.7 per cent improvement in net profit for 2025 on the back of a sharp jump in the cash earned from energy delivered and capacity charge.
Its newly issued audited accounts showed those two income streams more than doubled during the year, accounting for 99.99 per cent of revenue.
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The feat comes ten months after the electricity provider listed in Lagos as a spinoff of Tony Elumelu-backed Transnational Corporation of Nigeria at a market value of N1.8 trillion. It is now worth N2.4 trillion.
“Since our public listing, we have maintained consistent growth across all financial metrics, aligning with our mission to deliver value,” said Chief Executive Officer Peter Ikenga in a separate statement.
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“We are confident in our ability to sustain this trajectory of success,” he added.
Revenue for the review period climbed to N305.9 billion, up from N142.1 billion the previous year.
The company’s incurred a threefold surge in impairment loss on financial assets, which climbed to N8.1 billion increased by 282.6 per cent.
Transcorp Power increased management fee to N9.6 billion from N4.4 billion, a spur for administrative costs to accelerate by 131.9 per cent.
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The company turned the table on its heavy foreign exchange loss of N7.2 billion in 2023 to report a gain of N1.8 billion this time around.
Pre-tax profit rose to N113 billion from N52.8 billion, while profit after tax accelerated to N80 billion from N30.2 billion.
To reward shareholders, it has announced a dividend of N3.5 per share for every share held as of 11 February, translating to a total dividend per share of N5, having paid a N1.50 per share as interim dividend.
The company’s potential dividend payout for the year comes to N37.5 billion, if shareholders approve the final dividend proposal at the forthcoming annual general meeting scheduled for February.
Total assets stood at N396.8 billion compared to N233.4 billion a year earlier.
Transcorp Power’s total installed capacity stands at roughly 2000 MW, comprising the 972 MW gas-fired Ughelli Power Plant and the 966 MW gas-fired Afam Power Plant.
