Otedola’s Geregu Power reports 13% jump in nine-month profit amid soaring impairment loss

Post-tax profit at Femi Otedola’s Geregu Power came in 13.3 per cent stronger for the first nine months of the year when weighed up against the figure for the same period of last year.

The gains were recorded off the back of growth across its two key revenue streams.

Fairly stronger proceeds from both the energy sold and capacity charge lent the support that saw revenue 42.9 per cent up to N55.7 billion for the electricity producer.

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