Geregu Power Reports N13bn Profit In Q1 2025, Wins Corporate Compliance Award

Geregu Power Plc has reported a pre-tax profit of N13.01 billion for the first quarter ended March 31, 2025, representing a 40.57 percent drop compared to N21.9 billion in the same period last year.

The company’s revenue also declined sharply by 37.02 percent to N31.7 billion, down from N50.4 billion in Q1 2024. Despite the dip, energy sales remained the mainstay at N20.8 billion, with capacity charges contributing N10.8 billion.

Geregu managed to lower its cost of sales by over N2 billion to N19.7 billion, improving operational efficiency. However, gross profit fell by 57.75 percent to N12 billion, reflecting the broader revenue slump.

The company significantly curbed its foreign exchange losses, reporting just N7.6 million in unrealised losses, compared to N529.4 million in Q1 2024. Operating profit stood at N14.6 billion, a 32.62 percent drop from the previous year.

On the balance sheet, total assets rose to N262.9 billion, up 8.02 percent year-on-year, while retained earnings declined to N40.5 billion.

Meanwhile, Geregu Power received industry recognition, clinching the ‘Most Compliant Listed Company’ award at the 2024 Made of Africa Awards.

As of April 12, 2025, the company’s stock trades at N1, 141.50 per share, following a standout 188.22 percent surge in 2024.