Nigeria’s first publicly listed power company, Geregu Power, released its first-quarter earnings for 2024, showing a revenue of N50.4 billion.
This is approximately 3.5 times the N14.2 billion revenue posted in the same period last year.
Geregu Power is an early flier, as it became the first publicly quoted company to report its first-quarter earnings for 2024.
The company followed up this impressive top-line performance with an even better bottom-line profitability growth.
Its pre-tax profit for the period under review rose an astonishing 313% from just N5.3 billion in the same period last year to N21.9 billion this quarter.
Geregu Power continues on its path of profitability since its listing on the exchange, despite facing economic headwinds.