Prime Business AfricaGeregu Power closed the second quarter (Q2) of 2025 with N55.87 billion in revenue, surpassing the N30,24 billion generated in Q2 2024, representing an increase of 84.71 percent.
According to the company’s unaudited financial statements for the period ended June 30, 2025, the cost of sales grew by 86.95 percent year-on-year, overshadowing the growth in turnover, as the former rose from N17.18 billion to N32.12 billion.
Join our WhatsApp ChannelHowever, Geregu Power still managed to grow gross profit to N23,74 billion in the seond quarter of this year, from N13.06 billion reported in the corresponding period last year, indicating a 81.76 percent increase.
Although the power generating firm posted other losses of N4.61 million during the period under review, against the N24.17 million other income recorded in the second quarter of 2024.
Despite this, Geregu Power reported an operating profit of N15.02 billion in Q2 2025, up from the N8.64 billion recorded in Q2 2024, representing an increase of 73.72 percent.
However, finance income decreased by 23.69 percent to N1.65 billion between April and June of this year, falling below the N2.16 billion notched up in the same period last year.
During the same period, Geregu Power’s finance cost increased by 31.89 percent year-on-year, rising from N2.56 billion to N3.37 billion.
This led to the net finance cost increasing by 337.71 percent from N393.88 million recorded in the second quarter of 2024 to N1.72 billion reported in the same period this year.
Geregu Power also reported N13,29 billion as profit before tax (PBT) in Q2 2025, exceeding the N8.25 billion posted in Q2 2024, reflecting an increase of 61.12 percent.
Consequently, the tax charge of the company rose by 31.33 percent to N3.54 billion during the review period, compared to the N2.7 billion paid in the second quarter last year.
After tax deduction, Geregu Power had N9.74 billion in profit after tax (PAT) in Q2 2025, up from N5,55 billion reported in Q2 2024, indicating a 75.61 percent increase.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
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