One of Nigeria’s major electricity generation companies (GenCos), Geregu Power Plc, on Tuesday projected a net profit of N8.17 billion for the second quarter of 2026 (Q2 2026), news.ng reports.
In a notice made available on the Nigerian Exchange Group (NGX) website, the power company also projected revenue of N44.3 billion for the same period due to the company’s continued efforts to boost power generation capacity.
According to the notice, the company pegged the cost of sales at N27.4 billion, while gross profit is expected to reach N16.9 billion — a 38% increase from its initial forecast.
For administrative expenses, N2.06 billion will be allocated, reflecting disciplined cost management. The figure is expected to contribute N13.9 billion in operating profit.
Regarding net finance cost, N2.76 billion will be used to service debt, while finance income of N1.10 billion will offset other expenses, resulting in a net finance cost of N1.66 billion.
On the other hand, after accounting for an income tax expense of N4.02 billion, the electricity generation company projected a net profit of N8.17 billion, with an estimated tax rate of 33% and a net profit margin of 18.4%.
It is important to note that forecast earnings are critical for players in the country’s energy sector, as they help track Geregu Power Plc’s progress, even as the power generation market remains a critical infrastructure segment.
