Geregu Power Plc aims to generate N11 billion in post-tax profit in the first quarter of 2024, according to a regulatory filing published on Monday to the Nigerian Exchange (NGX) platform.
The power generation business informed the Nigerian Exchange that it expects income of N61.46 billion between October and December 2024. Management predicted an impairment loss of more than N6 billion on the company’s financial assets throughout the period.
Its operating profit is estimated to be N17.17 billion amidst increased borrowings. Geregu Power predicted that additional interest payments would result in net finance costs of N350 million.
Profit after tax is expected to reach N16.825 billion, according to its regulatory filing on the Nigerian Exchange. Despite its positive expectation, Geregu Plc remained flat at N1000 per share in the equities market due to thin trading.
This kept its market value at N2.5 trillion and has not changed in months. Geregu Power Targets N11bn as Profit for Q4.
