Transcorp Power Plc has reported a pre-tax profit of N28.772 billion for the Q1 ended March 31, 2024.
This represents an impressive 774.85% YoY increase and accounts for 55% of the pre-tax profit reported for the entire fiscal year of 2023.
According to the company’s Q1 2024 unaudited interim reports, Transcorp Power reported an impressive revenue of N67.862 billion, marking 222.54% YoY increase from the N21.040 billion reported the year prior.
Approximately 67% of this revenue stemmed from energy delivered, with 33.34% from capacity charges.
Key highlights (Q1 2024 vs Q1 2023)
Since its listing by introduction on March 4, 2024, Transcorp Power has experienced a notable 42.8% YtD increase in its share price, leading to a market capitalization of N2.83 trillion and ranking it 13th on the NGX in terms of year-to-date performance.
Recommended Reading: Transcorp Power: Driving growth and investor confidence