Geregu Power Records N21.9bn Pre-tax Profits in Q1

Kayode Tokede

Geregu Power Plc has announced N21.9 billion profit before tax in its unaudited first quarter ended March 31, 2024 result and accounts on the Nigerian Exchange Limited (NGX).

This is an increase of about 308 per cent from N5.37 billion profit before tax declared in Q1 2023. 

The power generating company also declared N14.46 billion profit after tax in Q1 2024, representing about 307.6 per cent growth from N3.55 billion reported in Q1 2023. 

The growth in profits is on the backdrop of N50.43 biillion revenue in Q1 2024, a growth of 254.4per cent from N14.23 billion declared in Q1 2023.