Weak revenue down Transcorp Power’s profit after tax by 12.6% in H1 2026
Influenced by weak revenue, Transcorp Power Plc has announced its unaudited financial results for the half year (H1) ended June 30, 2026 with N38.5 billion profit after tax, about 12.6 per cent drop from N44.05 billion reported in half year (H1) ended June 30, 2025.
One of the power subsidiaries of Africa’s leading listed conglomerate, Transnational Corporation Plc from its loss & profit figures posted N54.99 billion profit before tax in H1 2026, representing a drop of 6.4 per cent from N58.73 billion profit before tax reported in H1 2026.
The drop in profit was influenced by 12 per cent drop in revenue to N181.97 billion in H1 2026 from N205.81 billion reported in H1 2025.
The management will pay shareholders an Interim dividend of N1.50 per ordinary share, subject to appropriate withholding tax deduction and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business on July 20, 2026.
From the balance sheet position, Transcorp Power declared a total assets of N619.02 billion in H1 2026 from N563.48 billion reported as of December 31, 2025.
The MD/CEO, Transcorp Power, Peter Ikenga, in a statement said “Our H1 2026 performance is a reflection of the resilience of our business operations despite significant sector-wide existential challenges.
“Regrettably, recurring transmission line vandalisation materially constrained our ability to evacuate available generation capacity. Nonetheless, we continued to deliver strong profitability, maintain operational efficiency, and strengthen our balance sheet.
“We remain committed to working with relevant stakeholders to put an end to transmission line vandalisation and to further improving operational performance, power generation supply
reliability, and creating sustainable value for our shareholders.
“We remain highly confident that we will recover lost ground in H1 2026 and finish FY 2026 stronger than FY 2025″
Chief Finance Officer, Transcorp Power, Dr Evans Okpogoro in a statement said, “Our half-year results show sustained operating discipline in a period of moderated revenue. While revenue stood at N181.97 billion and Profit After Tax at N38.50 billion, the quality of our earnings improved across every efficiency metric.
“Gross margin expanded to 38.4per cent from 34.7per cent in H1 2025. Operating margin increased to 30.6per cent from 28.5per cent in 2025, and Profit Before Tax margin increased to 30.2per cent from 28.5per cent in 2025.
“These gains reflect our cost optimisation efforts and disciplined financial management, positioning us to continue delivering sustainable value for our shareholders.”
