CEO Ikenga Tells Strategy Behind Transcorp Power’s Outstanding Q1 2025 Performance
Peter Ikenga, the Chief Executive Officer and Managing of Transcorp Power, has revealed strategies behind the outstanding Q1 2025 performance of the power company.
The Chief Executive Officer and Managing Director of Transcorp Power, Mr Peter Ikenga, has reacted to the outstanding Q1 2025 performance of the power company.
Transcorp Power, with Africa’s business leader, Tony Elumelu, as Group Chairman, is a subsidiary of leading conglomerate, Transnational Corporation Group.
His comment follows the release of the company’s unaudited results for the fiscal quarter ended March 31, 2025.
Mr Ikenga maintains the stellar performance by the company under his watch was a reflection of “disciplined execution, reliable operations, and unwavering focus on efficiency.”
“We delivered a strong performance in Q1 2025, reflecting our disciplined execution, reliable operations, and unwavering focus on efficiency. Despite the challenges impacting the sector, we continue to optimise our generating capacity from 500MW in Q1 2024 to 625MW in Q1 2025. We remain firmly committed to delivering long-term value for our shareholders while powering progress across Africa”, Mr Ikenga said.
According to the financial results, Transcorp Power’s year-on-year revenue rose from N67.9 billion to N105.4 billion, representing a 55 percent increase.
Also, its profit before tax leaped by 50 percent from N28.8 billion in Q1, 2024 to N43.3 billion in Q1, 2025.
This strong performance, highstreet.ng understands, was primarily driven by an increased available capacity of 625MW compared to 500MW in Q1, 2024.
