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Geregu Power Plc earned roughly N4 billion profit in the third quarter , topping up to N11.3 billion for the nine months of operations.
The interim financial report of the power generating company for the third quarter ended September 2023, affirms the sustenance of operations on the growth track for the second quarter running after fixing its primary gas supplies problem.Sales revenue and profit accelerated in Q3 after rebounding in Q2 from the first quarter drops.
The upturn in the company’s earnings performance is expected to be maintained in the final quarter, during which projected sales revenue of N17.9 billion looks quite likely to be exceeded. Production cost grew significantly below sales revenue at an increase of 33.9 percent to N26.9 billion.
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