Transcorp Power Plc, a key player in Nigeria’s power sector and a subsidiary of the Transcorp Group, witnessed a significant boost in its share price last week.
The stock rose by 7.96%, climbing from N324.00 on January 20, 2025, to N349.80 on January 24, 2025.
This surge comes on the heels of the company’s release of its outstanding FY 2024 financial results, which highlighted substantial growth in revenue and profitability.
Investor confidence in the company was evident in the week’s trading activity, with 1,369,625 shares traded, amounting to a total value of N432 million.
The trading peaked on January 24, with 477,054 shares exchanging hands, valued at N154 million.
The company’s financial results showcased a 115% increase in revenue and a 165% rise in Profit After Tax, underscoring its robust performance in 2024.
Additionally, Transcorp Power announced the repayment of its USD loan, which significantly reduced its gearing ratio, and proposed a total dividend of N5.00 per share, reinforcing its dedication to shareholder value.
Speaking on the results, Peter Ikenga, Managing Director/CEO of Transcorp Power Plc, emphasized the company’s commitment to growth and value creation.
“Transcorp Power is dedicated to financial discipline and delivering unparalleled value to our stakeholders. Since our public listing, we have maintained consistent growth across all financial metrics, aligning with our mission to deliver value. We are confident in our ability to sustain this trajectory of success,” he said.
Transcorp Power Plc, alongside its sister company Transafam Power Limited, contributes over 20% of Nigeria’s installed power capacity, making it a vital player in the country’s energy landscape.
The company’s strategic investments in infrastructure and operational efficiency have cemented its position as a leader in the power sector and a driver of economic transformation.
With its strong financial results, strategic initiatives, and unwavering focus on delivering shareholder value, Transcorp Power Plc continues to solidify its role as a major force in Nigeria’s power industry.
