Transcorp Power Plc on Monday published its Third Quarter report for the period ended 30 September 2024. The result shows significant growth in the Company’s topline and bottom line figures.
Revenue of N223.56 billion was reported for the 9 months period, up by 152.78% from N88.44 billion reported the previous year.
The Company reported profit after tax (PAT) of N58.42 billion, up by 185.76% from N20.44 billion profit reported the previous year.
Earnings per share of Transcorp stands at N7.79.
At the share price of N301.7, the P/E ratio of Transcorp Power stands at 38.73x with earnings yield of 2.58%.
Commenting of the Q3 2024 result, Peter Ikenga, MD/CEO, Transcorp Power Plc stated thus:
“Despite the distribution and transmission infrastructural challenges faced in the Power Sector, Transcorp Power has once again demonstrated exceptional financial growth, as reflected in our impressive results. We continue to strive to bridge the energy gap in Nigeria, in line with our purpose to improve lives. I am proud to report that we have sustained our remarkable growth trajectory and maintained our position as a leading contributor to the country’s power sector, accounting for approximately 10% of total power generated on the national grid. As the market transitions into the bilateral contracts, as contained in the Electricity Act, we are optimistic about sustaining the momentum by capitalizing on more strategic investment opportunities and providing additional value to our shareholders.”