Geregu Power Plc has projected a post-tax profit of N12.1bn for the fourth quarter of 2025, positioning the company to close the year with at least N44bn in earnings if earlier quarterly estimates are met.
The forecast, filed with the Nigerian Exchange and signed by Chief Executive Officer Femi Otedola and Chief Finance Officer, Jubril Adeniji, underscores confidence in a stronger year-end performance.
So far in 2025, Geregu has largely delivered on its projections despite some quarterly swings.
In Q1, it projected N11.3bn but reported N10.4bn, slightly below target.
Also, in Q2, it estimated N8.6bn but beat expectations with N9.7bn.
Analysts believe Q3 earnings could meet their N11.7bn forecast once results are released.
The company’s robust revenue growth has been central to its performance.
The Q2 revenue surged to N55.8bn from N30.2bn a year earlier, lifted by N35.8bn in energy sales and N19.9bn from capacity charges. . Gross profit jumped 82 per cent year-on-year to N23.7bn, despite higher impairment losses on financial assets.
Operating profit for the quarter rose to N15bn, up nearly 74 per cent from N8.6bn in 2024.
While Q1 revenue softened to N31.7bn from N50.4bn in the prior year, Geregu managed costs effectively, reporting N12bn in gross profit and containing administrative expenses.
A reversal of impairment losses also supported earnings.
The Q4 outlook suggests Geregu is on track for its strongest annual profit yet, with its growth story tied to rising energy sales, disciplined cost management, and resilience in navigating Nigeria’s volatile power sector.
