Transnational Corporation Plc (Transcorp Group) has released its unaudited Q3 2025 financial results, reporting a pre-tax profit of N38.81 billion, representing a 53.84% year-on-year increase compared to the same period in 2024.
The strong quarterly performance lifted the nine-month pre-tax profit to N124.52 billion, an 18% YoY growth, now just 8% short of the company’s full-year 2024 profit.
Revenue for Q3 2025 surged 53.97% YoY to N133.76 billion, while the nine-month revenue rose 38.89% to N413.44 billion, surpassing the entire 2024 figure.
The growth was primarily driven by the energy business, which contributed N270.91 billion, accounting for 66% of the nine-month total revenue.
Key highlights (Q3 2025 vs Q3 2024) Revenue: N133.757 billion, +53.96% YoYCost of sales: N68.078 billion, +43% YoYGross profit: N65.680 billion, +67.26% YoYAdministrative, marketing, and distribution expenses: N16.566 billion, +28.29% YoYOperating profit: N45.730 billion, +64.40% YoYNet finance income: N5.789 billion, +68.01% YoYPost-tax profit: N26.237 billion, +55.57% YoYEarnings per share: N1,26; +530% YoYTotal assets: N940.887 billion, +26.19%Shareholders’ funds: N309.571 billion; +13.94CEO commentary Commenting on the results, Dr. Owen Omogiafo, OON, President/Group CEO of Transcorp Plc, stated:
“Transcorp Group’s Q3 2025 results demonstrate the successful execution of strategic direction, operational excellence, and portfolio-wide efficiency. Driven by our core purpose to ‘Improve Lives and Transform Africa’, we continue to optimize our businesses to deliver superior stakeholder value.”
Further analysis A further review of the unaudited financial statements shows that revenue grew faster than both the cost of sales and operating expenses, supporting the growth in profit margins.
Gross profit margin improved to 49%, up from 45% in Q3 2024.The operating profit margin also strengthened to 34.19%, compared to 32.02% YoY.Net finance income rose 68.01% to N5.79 billion, reflecting improved efficiency in financial operations.Balance sheet The company’s total assets expanded by 26% to N940.89 billion, largely driven by a 157% increase in investments in financial assets, which rose to about N47 billion.
Property, plant, and equipment (PPE) remained the largest component at N318.99 billion.On the equity side, total shareholders’ funds climbed 13.94% to N309.57 billion, while retained losses improved to N149.69 billion, compared to N112.32 billion in 2024.Total borrowings declined to N80.05 billion from N88.51 billion, signalling improved leverage management.However, trade and other payables remain elevated at N357.61 billion, representing over 57% of total liabilities.Market performance As of the close of trading on October 27, 2025, Transcorp Plc’s share price recorded a 0.5% decline to N48.15, though the stock recorded a year-to-date gain of 10.1%.
Idika Aja Idika is a Chartered Stockbroker with expertise in financial analysis, equity research, perspective analysis, and investment commentary.
