Transnational Corporation Plc (Transcorp) has published its financial statements for the quarter ended 31st March 2025, reporting a pre-tax profit of N49.4 billion fueled by a surge in revenue.
This reflects an 8.15% increase compared to the pre-tax profit of N45.6 billion from the same quarter last year.
Total revenue for Q1 2025 amounted to N143.7 billion, indicating a 62.29% rise from the N88.5 billion recorded in the prior year.
- In terms of revenue composition, the ‘Energy sent out’ segment accounted for the largest share at N96 billion, followed by capacity charges at N26.6 billion.
- Revenue from ‘rooms’ stood at N14.6 billion, with other sources contributing the remainder.
However, sales costs for the first quarter of 2025 increased significantly to N70.3 billion, up 66.26%.
- Despite this rise in costs, gross profit grew to N73.3 billion, up 58.64%.
On the downside, administrative expenses rose sharply to N15.9 billion in Q1 2025, a 94.09% increase.
- However, operating profit still soared, rising to N54.3 billion, compared to N49.1 billion in Q1 2024.
On the balance sheet, the group’s total assets increased to N830.5 billion, up 10.50%, while retained earnings grew to N131.8 billion, reflecting a year-over-year increase of 17.38%.
Key Highlights:
Revenue: N143.7 billion, +62.29% YoY
Cost of Sales: N70.3 billion, +66.26% YoY
Gross Profit: N73.3 billion, +58.64% YoY
Administrative Expenses: N15.9 billion, +94.09% YoY
Operating Profit: N54.3 billion, +10.48% YoY
Pre-tax Profit: N49.4 billion, +8.15% YoY
Retained Earnings: N131.8 billion, +17.38% YoY
As of the trading day ended 28th April 2025, shares of the company were priced at N45.70, with a year-to-date performance of 5%.
