Transcorp Power Plc recorded a strong financial performance in the 2025 financial year, with profit after tax rising by 14 per cent year-on-year to ₦91.42 billion, according to its audited financial statements.
The earnings growth prompted the power generation company’s board to approve a higher dividend payout for shareholders. A full-year dividend of ₦5.50 per share was proposed for 2025, representing a 10 per cent increase from the dividend paid in the previous year. The total payout includes an interim dividend of ₦1.50 per share already distributed and a final dividend of ₦4.00 per share.
The company’s improved bottom line was largely driven by robust revenue expansion, supported by increased energy sales both within Nigeria and across international markets. Transcorp Power’s revenue climbed by 30 per cent to ₦398.27 billion in 2025, up from ₦305.94 billion recorded in 2024.
A breakdown of revenue shows that international energy sales more than doubled, rising from ₦54.68 billion in 2024 to ₦117.05 billion in 2025. Domestic power sales also remained strong, generating ₦281.22 billion despite heightened competition within the power sector.
However, the revenue growth came alongside a sharp rise in operating costs. Cost of sales increased by 32 per cent year-on-year to ₦216.40 billion from ₦163.73 billion, reflecting higher input and operational expenses. Despite this pressure, gross profit still expanded by 28 per cent to ₦181.86 billion, compared with ₦142.21 billion a year earlier.
Operating profit rose by 10 per cent to ₦125.05 billion, even as the company recorded higher impairment losses on financial assets and property, plant and equipment. Profit before tax increased at a slower pace of 6 per cent to ₦120.02 billion, up from ₦113.29 billion in 2024.
A reduction in tax expenses further supported earnings, with tax charges declining by 14 per cent year-on-year. This helped lift net income to ₦91.42 billion for the year.
Transcorp Power also strengthened its balance sheet during the period. Total assets expanded by 42 per cent to ₦563.48 billion, while shareholders’ equity grew by 44 per cent to ₦183.40 billion. Borrowings were reduced to ₦30.70 billion from ₦37.70 billion, underscoring management’s efforts to deleverage and improve financial resilience.
