Transcorp’s nine-month profit up by 135%

Transnational Corporation of Nigeria (Transcorp) reported a 135.1 per cent surge in net profit in the first nine months of the year, according to its latest financial report.

Revenue jumped from N128 billion to N297.7 billion, deriving its strength from a dramatic increase in the income generated from the energy sent out by its energy business, which alone accounted for 57.6 per cent of turnover.

Capacity charge, another income source from the energy subsidiary, contributed 26.1 per…