Transnational Corporation Plc (Transcorp) reported a 17.9% drop in nine-month profit as revenue fell 13.3%, with transmission damage and gas-supply constraints curbing electricity sent to the grid, it said.
The group recorded ₦75.09 billion in consolidated profit after tax, compared with ₦91.41 billion a year earlier. Revenue totaled ₦357.38 billion, down from ₦412.43 billion for the same period in 2025. The figures are in Transcorp’s unaudited financial statements filed with the Nigerian Exchange and its Oct. 26 results release.
The “energy sent out” revenue line, the group’s largest, fell to ₦215.11 billion from ₦270.91 billion. Its ₦55.8 billion decline was the largest drop among the revenue categories. Transcorp said vandalism at transmission infrastructure and limits on gas supply held back electricity deliveries to the grid. The filing said work to ease both problems was ongoing.
Food and beverage revenue declined to ₦19.27 billion from ₦21.02 billion. Event centre hall rental income fell to ₦981.5 million from ₦1.15 billion, while other income dropped to ₦493.9 million from ₦2.40 billion.
Profit before tax decreased 10.5% to ₦111.39 billion from ₦124.52 billion. Despite that decline, the pre-tax margin widened to 31.2% from 30.2%. The company said cost controls and more efficient operations helped lift the margin.
Profit attributable to owners of the parent was ₦43.62 billion, down from ₦54.29 billion. Total assets rose to ₦1.13 trillion from ₦1 trillion at Dec. 31, 2025.
Transcorp Power Plc’s unaudited filing with the Nigerian Exchange showed its pre-tax profit fell 8.9% to ₦83.08 billion. The subsidiary’s nine-month pre-tax profit decline came alongside a contrasting result from hospitality unit Transcorp Hotels Plc, which reported a 5% increase in profit after tax to ₦15.5 billion.
