Geregu Power Plc has published its interim financial statements for the first quarter ending March 31, 2025.
Gatekeepers News reports that the company reported a pre-tax profit of N13.01 billion, down 40.57% from N21.9 billion recorded in Q1 2024.
It recorded N31.7 billion, a 37.02% drop compared to N50.4 billion from the first quarter of the previous year.
Energy sales accounted for the bulk of this revenue at N20.8 billion, while capacity charges contributed the remaining N10.8 billion.
The cost of sales decreased to N19.7 billion from N22.01 billion in Q1 2024, yet gross profit declined sharply to N12 billion from N28.4 billion.
Unrealised Foreign Exchange (FX) losses were reduced to N7.6 million, a significant improvement from N529.4 million.
Profits from core operations fell to N14.6 billion, down from N21.7 billion, and the total assets rose to N262.9 billion (up 8.02%), while retained earnings dropped to N40.5 billion (a 21.07% decline).
As of April 12, 2025, Geregu Power shares are priced at N1,141.50 on Nigerian stock market. In 2024, following a 188.22% year-to-date growth in 2024.
