Geregu Power posts higher quarterly profit of N8.25bn

Geregu Power Plc has reported a 19 percent increase in its profit before tax for the second quarter of this year compared to the previous three months.

The power generation company, chaired by billionaire businessman Femi Otedola, saw its earnings rise to N8.25 billion from N6.93 billion as its revenue jumped by 48 percent to N30.25 billion, according to its unaudited financial statements released on Saturday.

Its earnings per share increased to N2.22 from N1.8.