Geregu Power, one of Naija company wey dey generate light, don show say dem be better person even with all the wahala wey dey for power sector. Dem don nack for their report say dem make N20 billion profit after tax for the first six months of 2024. This one na big difference from the N8 billion wey dem get for the same time last year.
The company yarn dis one for their recent report wey dem release about how their business dey go. This new profit na big jump of 148 percent from the N8.05 billion wey dem get for first half of 2023.
Dem also yarn say their profit before tax reach N30.2 billion for the first half of 2024. This one na another 145 percent increase compared to wetin dem get last year. The number wey dem get for 2023 na N12.3 billion.
The wahala wey dey for power sector no stop Geregu Power from shining. Their profit before tax for the first six months of 2024 even pass the whole profit wey dem make for the entire year 2023 wey na N24.4 billion.
Geregu Power na the first company wey dey sell light wey come out for Nigerian Exchange Limited to release their report for the second quarter of 2024.
Their report wey no be final yet show say dem make N80.7 billion for the first six months of dis year. This one na big jump of 133 percent from the N34.7 billion wey dem get for the same time last year.
Most of the money wey Geregu Power make na from selling light wey reach N50.8 billion. Dem also collect N29.8 billion from capacity charges.
Just last February 2024, the Minister of Power, Adebayo Adelabu, yarn say money problem, how to get money and how to run the business na the main wahala wey dey worry the power sector. But Geregu Power don show say even with all these problems, dem still fit shine.
Source: Prime 9ja Online Pidgin: Geregu Power Shine Face For Dis Year Despite Power Wahala