MTN Nigeria Reports N51.1Bn Net Profit in Q1 2020.

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MTN Nigeria Reports N51.1Bn Net Profit in Q1 2020.
MTN Nigeria Archives | InfoTips Nigeria


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.

 MTN earned N453bn in 2018 – report - News Digest

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