Transcorp Power Posts Resilient HY Results Amid Power Sector Challenges
Emmanuel Addeh
Transcorp Power Plc has reported a resilient financial performance for the first half of 2026 despite the adverse impact of recurring transmission infrastructure vandalism, which constrained its ability to evacuate available power generation capacity.
The electricity generation company, a subsidiary of Transnational Corporation Plc (Transcorp Group), posted revenue of N181.97 billion for the six months ended June 30, 2026, down from N205.81 billion recorded in the corresponding period of 2025.Profit before tax also declined to N54.99 billion, compared with N58.73 billion in the first half of 2025.
Despite the lower revenue and profitability, the company strengthened its balance sheet during the period, with total assets rising by 9.9 per cent to N619.02 billion from N563.48 billion at the end of 2025. Shareholders’ funds increased by 3.2 per cent to N189.34 billion, while retained earnings grew 6.4 per cent to N140.90 billion, reflecting continued earnings retention and value creation.According to the company, the expansion in its balance sheet was largely driven by increases in receivables and borrowings.
