was -N11 million compared to N1.5 billion in 2020 as the company’s spending on servicing debt soared from N26.9 million to N959.1 million and the interest earned from bank deposits fell way behind the value reported one year earlier.Geregu Power, controlled by the business tycoon Femi Otedola, had assets totalling N114.8 billion in value as of the end of the review period.
Profit before tax rose to N29.5 billion, more than two-fifths higher. Bottom line accelerated to N20.6 billion by 45.5 per cent.Geregu Power hasof N2,055, while its PE ratio is currently as low 0.06x, making it the most undervalued stock on the 157-company bourse. That will likely spur increased interest in the stock in the short term and strengthen the sentiment driving up its share price, which gained 20.9 per cent in its first three days of trade.
Yet no light to show for it. Magic of high tariff.
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