Earlier today, MTN Nigeria Plc released its Q2 2019 financial results, a breakdown of which shows how the leading telco made money in the past six months.
Of specific interest is the fact that MTN earned the sum of N359,033,758,000 from selling airtime to Nigerians. This amount is N31.8 billion more than the sum of N327,203,329,000 which the company made in H2 2018 from airtime sales.
Below are more interesting details from the company’s just-released Q2 2019 results:
- MTN earned a total of N103,321,974,000 from data sales in Q2 2019, compared to N79,471,948, 000 in Q2 2018.
- The sum of N7,058, 642, 000 was also earned from SMS services during the period under review, compared to N6,938, 834, 000 in Q2 2018.
- The telco earned N62,056,127, 000 from interconnect and roaming compared to N50,998,415,000 in Q2 2018.
- Sale of handset and accessories earned MTN Nigeria a total of N533, 438, 000 in Q2 2019 compared to N122,458, 000 in Q2 2018.
More details about the company’s earnings in the first half of 2019 can be seen the image below:
What this means: Airtime sales remains the main source of revenue for Nigeria’s leading telecoms services provider. In other words, quite a number of Nigerians are still spending more money on call credit than they do on data.
In the meantime, MTN Nigeria’s revenue and profit have continued to grow. This suggests that more people are patronising the company’s products and services despite numerous plans (by some disgruntled Nigerians) to boycott the South African-owned company over reported cases of xenophobic attacks on Nigerians in South Africa.
In the just-released Q2 2019 results, MTN Nigeria’s revenue increased by 12% to N566.9 billion, even as profit after tax also increased by 34.8% to N73.3 billion.
The company announced an interim dividend of N2.95 kobo per 2 kobo ordinary share for the financial period under review. This is the first-ever dividend MTN is declaring since its shares were listed on the Nigerian Stock Exchange earlier this year.