Geregu Power’s 9M pre-tax profit falls 79.85%, despite beating Q3 forecast

Geregu Power Plc has unveiled an 80% plunge in pre-tax profit to N7.55 billion over the nine months ending September 30, 2026, despite beating its Q3 earnings prediction. Revenue fell by 81% to N25.35 billion, and profit after tax dropped by 76.5% to N5.89 billion. The company exceeded third-quarter profit expectations, reporting N3.98 billion pre-tax profit, a 545.4% increase from N617.01 million forecasted.

Revenue for Q3, however, fell 28.2% to N6.70 billion, a noticeable decline from N9.30 billion in the same quarter of 2025. Expenses rose by 127.3% to N17.08 billion as administrative costs climbed. Despite these challenges, Geregu Power's shareholders' equity slipped by 28.3% to N42.02 billion, reflecting the company's earnings and shareholder distributions. The stock opened at N1,141.50 but closed at N825.70 on Friday, with a 27.7% decline year-to-date.