Telecoms services provider, MTN Nigeria Communications Plc, has disclosed its consolidated financial report for the nine months ended September 30th, 2019. The report shows impressive performance by the company which was listed on the Nigerian Stock Exchange earlier this year. Let’s break it down below.
Revenue and expenses: MTN’s revenue for the period is N856.4 billion as against N764.4 billion reported during the same period last year. This is indicative of a 12% increase. Interestingly, the telco’s direct network operating costs for the period decreased by 21.7% to N177.9 billion, although the cost for employees’ benefits and advertising cost increased by 20.9% and 10.6%, respectively.
Operating Profit: MTN’s operating profit for the period under review stood at N286.2 billion, marking a 39 % increase when compared to N205.8 billion as at September 2018.
Profit before tax also grew by 23.9% to N212 billion during the period under review as against N171 billion during the comparable period last year.
Profit for the period stood at N148.3 billion, a 28.9% increase compared to N115 billion reported by the company for the first three quarters of 2018.
MTN’s earnings per share for the period (basic and diluted) was reported at N7.29 as against N5.65 as at September 2018.
Note that the company’s Chief Executive Officer, Ferdi Moolman, commented on the financial performance saying that it is indicative of the company’s “resilience” despite “a challenging operating environment”. The company generated most of its revenue for the period through its voice and data services.
You may download the full report here.