Transcorp Power Plc Share Price Jumps 7.96% Following Impressive FY 2024 Results

Nume Ekeghe

Transcorp Power Plc, a Transcorp Group power business and a leading player in Nigeria’s power sector, saw its share price surge by 7.96% last week, rising from N324.00 on January 20, 2025, to N349.80 on January 24, 2025. This remarkable performance came on the heels of the company’s release of its impressive FY 2024 financial results.

The strong investor confidence was reflected in the trading activity, with a total of 1,369,625 shares exchanging hands during the week, valued at N432 million. The highest trading volume was recorded on January 24, with 477,054 shares traded at a total value of N154 million.

The financial results highlighted Transcorp Power’s outstanding growth in 2024, with a notable 115% increase in revenue and a 165% rise in Profit After Tax. The company also announced the repayment of its USD loan, a significant reduction in its gearing ratio, and a proposed total dividend of N5.00 per share—further demonstrating its
commitment to delivering value to shareholders. Commenting on the results, Peter Ikenga the Managing Director/CEO of Transcorp
Power Plc stated, “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.”
Investors have welcomed the positive outlook for the company, which contributes over
20% of Nigeria’s installed power capacity, alongside its sister company, Transafam
Power Limited.

The company’s focus on sustainable growth, including investments in
infrastructure and operational efficiency, has positioned it as a leader in the power sector and a driver of economic transformation in Nigeria.

With strong financial results, strategic initiatives, and a clear commitment to shareholders, Transcorp Power Plc continues to reinforce its place as a major player in Nigeria’s power industry.