Prime Business AfricaTranscorp Power, a power-generating company largely owned by Tony Elumelu, outperformed Femi Otedola’s Geregu Power in the stock market in the first quarter (Q1) of 2025.
According to Prime Business Africa’s analysis of data obtained from the Nigerian Exchange Limited (NGX), the investment value of Transcorp Power shareholders increased by 1.38 percent between January and March.
Join our WhatsApp ChannelThe increase, representing a combined gain of N37.50 billion, occurred after Transcorp Power’s share appreciated by N5, rising from N359.90 kobo on January 2 to N364.90 kobo on March 28.
This raised Transcorp Power’s market valuation from N2.69 trillion to N2.73 trillion, reducing the gap between the company and Geregu Power, which recorded a decline.
Analysis showed that while the stock market favoured Transcorp Power in Q1, Geregu was not as sought after in the bourse, resulting in the latter’s share price declining from N1,150 to N1,141.50 kobo per share.
Consequently, Geregu Power’s shareholders saw a marginal 0.73 percent decline in their investment, representing a combined loss of N21.25 billion within three months.
Following the loss, Geregu Power’s market valuation fell from N2.87 trillion on January 2 to N2.85 trillion on March 28.
Transcorp Power’s share outperformed that of Geregu as the former reported a robust financial period in the first quarter of this year, having recorded a 55.37 percent increase in revenue from contracts with customers, which rose from N67.86 billion in Q1 2024 to N105.44 billion in Q1 2025.
During the same period, Geregu’s revenue dropped by 37.02 per cent from N50.42 billion to N31.75 billion.
Geregu also saw a decline in its operating profit, as it fell to N21.76 billion from N14.66 billion – indicating a 32.62 per cent quarter-on-quarter decline, while Transcorp Power reported 51.45 per cent growth, up from N29.41 billion to N44.54 billion.
Similarly, Transcorp Power’s profit after tax (PAT) grew by 62.04 percent from N20.14 billion in Q1 2024 to N32.63 billion in Q1 this year, however, Geregu’s net income fell by 27.86 per cent to N10.43 billion, from N14.46 billion during the same period.
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