MTN Nigeria records 16.6% increase in revenue in Q3 2020

MTN Nigeria released its 2020 third-quarter results showing revenues surged to N337.7 billion – 16.6% higher than the same period in 2019. Year to date Pre-tax profits is now N211.6 billion – down from N212.9 billion same period last year.

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Key highlights for the third quarter

• Revenue – N337.7 billion, +16.6%
• Pre-tax profits – N72 billion, +2.2%
• Operating expenses – N166.9 billion, +23.3%
• Finance cost – N30.5 billion, +22.7%
• Earnings per share – N2.52, +2.4%
• Mobile Subscribers – 75 million, +21.8%
• Data subscribers – 30.7 million, +37.7%

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Bottom Line: MTN profits came under pressure in the third quarter of the year due to rising operating expenses and finance costs.

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