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MTN Nigeria

MTN Nigeria revenue rises 13.9% to N975.7 bln in 9-month

By on October 28, 2020 0 106 Views

MTN Nigeria on Wednesday said it grew its revenue for the first nine months of 2020 by 13.9 percent to N975.76 billion from N856.55 billion in the preceding period of last year.

The local unit of South Africa’s telecoms firm said in a filing with the Nigerian Stock Exchange (NSE) that it grew its data revenue by 48.9 percent to N241.60 billion in the period to September 2020 from N162.25 billion in the same period of last year.

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Revenue from voice call rose by 4.7 percent to N558.70 billion from N533.76 billion last year while earnings from SMS declined by 19 percent to N8.30 billion in 2020 from N10.25 billion previously.

However, despite the 13.9 percent growth in revenues, the telecoms Profit Before Tax (PBT) fell 0.6 percent N211.59 billion compared with N211.59 billion posted in the nine months to September last year.

Profit After Tax (PAT) also declined by 3.3 percent to N144.24 billion at the end of September 2020 from N149.22 billion in the same period of last year.

Due to commercial paper issued early in the year, the telecoms firm’s outstanding debt rose by 25.9 percent to N1.14 billion from N904.61 billion last year.

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