MTN Revenue Hits N856.48bn In Nine Months
MTN Nigeria Communications Plc on Wednesday announced revenue of N856.48 billion for nine months ended Sept. 30, 2019.
The News Agency of Nigeria (NAN) reports that the revenue figure is on the company’s nine months unaudited result posted on the Nigerian Stock Exchange (NSE) website.
The unaudited result showed that the revenue represented a growth of 12.03 per cent when compared with N764.46 billion achieved in the corresponding period of 2018.
Profit after tax dropped to N148.32 billion during the period under review in contrast with N157.19 billion achieved in the comparative period of 2018, a decrease of 5.64 per cent. Also, profit before tax stood at N212.01 billion in contrast with N227.08 billion in 2018, representing a decrease of 6.63 per cent.
The company’s Earnings Per Share stood at 729k during the review period and lower than 772k achieved in the comparative period of 2018. The company said that its mobile subscribers during the period increased by 0.1 million to 61.6 million. Also, active data users increased by 1.6 million to 22.3 million, while service revenue rose by 12.1 per cent to N854.9 billion.
Commenting on the performance, Mr Ferdi Moolman, the company’s Chief Executive Officer, said that it was currently exploring financing options to diversify funding sources. Moolman said that the company’s performance was very encouraging and also demonstrated the resilience of its business despite challenging environment.