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