MTN Nigeria announced a profit after tax of ₦51 billion in Q1 2020 - a 6% increase compared with Q1 2019. This increase was largely driven by revenue from data subscriptions, which rose to ₦74 billion – a 60% increase compared with Q1 2019. Revenue from data subscriptions is expected to further increase this quarter (Q2 2020) as workers in many parts of Nigeria are working remotely due to the coronavirus outbreak.

- Revenue grew by 16.7% to N329bn from N282bn in the previous quarter.
- Profit before tax grew by 8.9% to N76bn.
- Profit after tax grew by 5.6% to N51bn.
- Net Assets grew by 35.3% to N196bn from N145bn.

Service revenue rose by 16.7 percent year on year to NGN 328.5 billion, driven by voice and data revenue. Net profit increased by 5.6 percent to NGN 51.15 billion from NGN 48.44 billion in Q1 2019 and earnings per share increased by 5.6 percent to NGN 0.025.

EBITDA grew by 15.3 percent year on year to NGN 173.5 billion resulting in an EBITDA margin of 52.5 percent, an increase of 0.6 percentage points. Mobile subscribers increased by 4.2 million to 68.5 million, an increase of 7.4 percent. Active data users increased by 1.7 million to 26.8 million and data revenue grew by 59.2 percent. The performance was achieved against the backdrop of several developments during the quarter. Value-added tax (VAT) was increased in February from 5.0 percent to 7.5 percent, which adversely affected both revenue and costs.

MTN Nigeria said mobile subscribers increased by 4.2 million to 68.5 million, an increase of 7.4 percent.

MTN Nigeria’s Chief Executive Officer, Ferdi Moolman, said data revenue increased by 59.2 percent due to growth in data traffic and the addition of 1.7 million active Internet subscribers to the network during the quarter.

The situation has been exacerbated by upheavals in the global oil market, which put significant downward pressure on oil prices, leading to an exchange rate adjustment by the Central Bank of Nigeria on 20 March, increasing some of the operator's costs. In addition, a series of lockdown measures began being implemented globally in response to the Covid-19 pandemic, resulting in significant operational challenges and supply chain disruptions.

SOURCE: https://brandspurng.com/2020/04/30/mtn-nigeria-made-%e2%82%a651-billion-profit-and-gained-4-2-million-new-subscribers-in-q1-2020/

After calling them Empty Hen, una still dey buy their line. 4.2Million new subscribers!

They make huge profits in our country and yet they kills us in their stupid country

See figures everywhere.

God when?

This is expected, as more people are at home and busy with the phone instead of being at work

Upon all the money I borrow and owe this people them still make gain of over N51b

Davash222:
After calling them Empty Hen, una still dey buy their line. 4.2Million new subscribers!

Hahahaha

With all this gains, na only 10 messages per day Dem fi give person

Beautiful, the the government should increase their tax.

I'm here

Ravon:
MTN Nigeria announced a profit after tax of ₦51 billion in Q1 2020 - a 6% increase compared with Q1 2019. This increase was largely driven by revenue from data subscriptions, which rose to ₦74 billion – a 60% increase compared with Q1 2019. Revenue from data subscriptions is expected to further increase this quarter (Q2 2020) as workers in many parts of Nigeria are working remotely due to the coronavirus outbreak.

- Revenue grew by 16.7% to N329bn from N282bn in the previous quarter.
- Profit before tax grew by 8.9% to N76bn.
- Profit after tax grew by 5.6% to N51bn.
- Net Assets grew by 35.3% to N196bn from N145bn.

Service revenue rose by 16.7 percent year on year to NGN 328.5 billion, driven by voice and data revenue. Net profit increased by 5.6 percent to NGN 51.15 billion from NGN 48.44 billion in Q1 2019 and earnings per share increased by 5.6 percent to NGN 0.025.

EBITDA grew by 15.3 percent year on year to NGN 173.5 billion resulting in an EBITDA margin of 52.5 percent, an increase of 0.6 percentage points. Mobile subscribers increased by 4.2 million to 68.5 million, an increase of 7.4 percent. Active data users increased by 1.7 million to 26.8 million and data revenue grew by 59.2 percent. The performance was achieved against the backdrop of several developments during the quarter. Value-added tax (VAT) was increased in February from 5.0 percent to 7.5 percent, which adversely affected both revenue and costs.

MTN Nigeria said mobile subscribers increased by 4.2 million to 68.5 million, an increase of 7.4 percent.

MTN Nigeria’s Chief Executive Officer, Ferdi Moolman, said data revenue increased by 59.2 percent due to growth in data traffic and the addition of 1.7 million active Internet subscribers to the network during the quarter.

The situation has been exacerbated by upheavals in the global oil market, which put significant downward pressure on oil prices, leading to an exchange rate adjustment by the Central Bank of Nigeria on 20 March, increasing some of the operator's costs. In addition, a series of lockdown measures began being implemented globally in response to the Covid-19 pandemic, resulting in significant operational challenges and supply chain disruptions.

SOURCE: https://brandspurng.com/2020/04/30/mtn-nigeria-made-%e2%82%a651-billion-profit-and-gained-4-2-million-new-subscribers-in-q1-2020/

Hmmmm

of course, Telecommunication networks gain this period

MTN still remains the best

dtz gud bt kinda cnt comprehend d news o. does it mean dt they made d highest revenue in Q1 ahead of other companies?? a list or breakdown of the rest should be included bcoz i think am seeing more of airtel and less of mtn n little or no 9-mobile on my contact list this days...nice work mtn..the increase means dt they are doing things rite...m nt a fan bcox d network is poor wr i reside bt really rocked n flexed dm during d time of mtn pulse xpecially dt dier free text n free pulse to pulse midnite calls...bin gift one bea mtn sim kum sub d pulse for her de fire midnite calls on a daily bk den...go jus carry textbooks n rechargeable touch sit for outside lyk wu wan read bcoz i bin de run waec bk den...go call n talk tinz till dawn, fone go de hot, ear go de pain me, eyes go de red n betta headache go folo join...las las d bea no even pity me gv me cake chop after all my stress n sacrifice, no even talk abt d fact say i dt fail waec beautifully n she pass her own gain admission leave me for street to battle waec d nxt year.. na den i kno d tru meaning of "dey is time 4 evritin....dt gal na real witch n destiny killer abeg

Cash out time for them

Davash222:
After calling them Empty Hen, una still dey buy their line. 4.2Million new subscribers!

Glo and Airtel are not too good, and 9mobile is not widespread....

Plus MTN was the first mobile provider in the country. Your family and friends and colleagues are more likely to have an MTN line than any network.

Made worse back in the 2001-5 period, when it was a bit difficult sometimes to call between networks...so if you had to call someone back then without problems, you had to get an MTN line in addition to your ECONET line.

It's expected. We're indoors, browsing anything browsable.

Davash222:
After calling them Empty Hen, una still dey buy their line. 4.2Million new subscribers!

Lol. Who nor like better thing?

Anyway, it's only Glo users loosers that call them empty hen

More data usage

All thanks to covid 19

The gains of covid -19.

F

I'm not surprised by their financial results...they're one of the beneficiaries of this lockdown

When their data for 1 month does not last more than 2 days what do u expect

kikero:


Glo and Airtel are not too good, and 9mobile is not widespread....

9 mobile is too expensive. Their data rates is so high

Nigeria will never appreciate their own company. Hypocrisy

Vszz

Emptyhen

Everywhere u go

This MTN useless for my area I already switch to Glo.