Transcorp Power Plc’s profit before tax fell 8.9% to ₦83.08 billion in the nine months ended Sept. 30, 2026, as revenue dropped 13.7% to ₦266.14 billion, according to unaudited financial statements filed with the Nigerian Exchange. Profit after tax declined 17.4% to ₦56.50 billion from ₦68.42 billion a year earlier.
The filing’s main income statement gives the prior-year pre-tax profit as ₦91.176 billion, the basis for the reported decline. Note 10.4 lists a different comparison of ₦91.636 billion; the company’s press release uses the main-statement figure.
Transcorp Power blamed the lower revenue on gas shortages, damage to transmission infrastructure that hampered power evacuation, and delays in turbine components. It connected the parts delays to global supply-chain disruption associated with the Middle East crisis. The company did not break out the revenue impact of each constraint.
Energy delivered generated ₦197.88 billion, the largest revenue source, while capacity charges brought in ₦68.25 billion. The figures put the company’s main revenue stream alongside the supply and transmission constraints it cited.
The pre-tax margin increased to 31.2% from 29.6%, even as gross profit fell to ₦102.29 billion from ₦119.67 billion and gross margin narrowed to about 38.4% from 38.8%. The income statement recorded a ₦12.40 billion write-back on financial-asset impairments, compared with a ₦7.69 billion impairment loss in the year-earlier period. Administrative expenses rose to ₦25.02 billion from ₦17.93 billion.
At Sept. 30, total assets were ₦629.52 billion, up 11.7% from Dec. 31, 2025, and shareholders’ funds increased 8.9% to ₦199.82 billion. The company said improved collections, partial settlement of legacy market debts and a reversal of expected credit-loss provisions supported its financial position. Its board approved the unaudited statements on Oct. 20.
