Transcorp Power reported a 6.37% year-on-year decline in pre-tax profit for the first half of 2026, settling at N54.99 billion.
Despite the softening in profitability, the company announced a dividend of N1.50 per share, signaling continued confidence in cash flow generation amid a challenging operating environment.
The results arrive as Nigeria’s electricity distribution companies (DisCos) grapple with significant revenue shortfalls.
In the first quarter of 2026 alone, DisCos recorded a combined revenue gap of N159 billion, driven by a sharp deterioration in bill collection rates.
This structural strain underscores the broader financial pressure facing the power sector, even as generation and transmission entities like Transcorp attempt to maintain stability.
Transcorp’s ability to declare a dividend despite the profit dip contrasts with the wider sector’s struggles.