MTN Nigeria Profit Declines to N211.6 Despite Subscribers Growing by 3.9Million

MTN Nigeria Profit Declines to N211.6 Despite Subscribers Growing by 3.9Million
Join @Naijakit On Telegram For Instant Updates (Click Here)

OVERVIEW OF: MTN Nigeria Profit Declines to N211.6 Despite Subscribers Growing by 3.9Million

Mtn Nigeria Profit Declines To N2116 Despite Subscribers Growing By 39million

MTN Nigeria Profit Before Tax Dropped 0.6 Percent N211.6 Despite Subscribers Growing by 3.9m to 75 Million

MTN Nigeria’s profit before tax declined by 0.6 percent to N211.6 billion in the nine months ended September 30, 2020.

The telecommunications giant grew mobile subscribers by 3.9 million to 75 million when compared to the same period of 2019 while active data users expanded by 1.7 million to 30.7 million during the period under review.

In the unaudited financial statements released through the Nigerian Stock Exchange, the largest telecommunications company in Africa grew service revenue by 13.9 percent to N973.8 billion.

While earnings before interest, tax, depreciation and amortisation (EBITDA) appreciated by 9.1 percent to N497.9 billion.

But EBITDA margin declined by 2.3 percentage to 51 percent during the period under review.

Similarly, earnings per share dipped by 3.3 percent to N7.1 kobo.

Speaking on the company’s performance, Ferdi Moolman, the MTN Nigeria CEO, attributed the shocking decline to drop in voice traffic due to the lockdown that kept families together.

However, he said data usage surged during the period as more people had to rely on the internet to operate or manage their businesses during the COVID-19 total lockdown.

He said “during the period under review, we saw volatility in both voice and data revenue, affecting the trajectory of our overall service revenue, as well as pressure on costs, which continues to impact our operating margins, dampening profitability.

“Following a decline in voice traffic and an acceleration in data during lockdowns in Q2, we have seen a normalisation of traffic as restrictions have been removed, with a recovery in voice traffic and continued growth in data. This has supported a 13.9 percent growth in service revenue, with an acceleration of growth to 16.5 percent in the third quarter specifically.”

Speaking further, he said “data revenue rose by 57 percent, with an increase in data usage and traffic. Revenue from digital and fintech services rose by 114.3 percent and 28.3 percent, respectively, while voice revenue growth was 4.2 percent.”

MTN Nigeria added that in order to accommodate its growing traffic and improve servive delivery for all customers, the company invested in the capacity and resilience of the network by accelerating its 4G rollout and expanding its investments in rural connectivity.

It said the company’s 4G network now covers 52.9 percent of the population, up from the 48.6 percent achieved in the second quarter and 35.4 percent in the third quarter of 2019.


Naijakit TV


Write a Comment


*NOTE:* You Need To Provide a Valid Phone Number Incase we want to reach you back. or you want us to contact you back.. Via your comment.. Thanks, Your Comment is important to us!

Download Latest Naija Song And Naija Music Download on This Website. Also Read All Naija Entertainment and Celebrity Gossip and Nollywood News on Naijakit.com

Latest Naija Music, Latest Music, Download Latest Music, Download New Songs, Download Latest Wizkid Songs Mp3, , Download Latest Olamide Songs Mp3, Download Latest Tiwa Savage Songs Mp3, Download Latest Burna Boy Songs Mp3, Download Latest Naira Marley Songs Mp3, Download Latest Rema Songs Mp3, Download Latest Fireboy Songs Mp3, Download Latest Fireboy DML Songs Mp3, Download Latest Nigeria Songs Mp3, Latest Nigeria Music, 9jakit, Niger kit, 9ja kit, Nigerkit, Latest DJ Mixtape, Download DJ Mix, Download Latest Songs Mp3, Download Latest Music Mp3, Latest Songs, Latest Video, Download Latest Video, Download Latest Songs Audio Mp3, Latest Olamide Album Download, Olamide Album, Download Olamide Album, Latest WIzkid Album Download, Wizkid Album, Download Wizkid Album, Latest Burna Boy Album Download, Burna Boy Album, Download Burna Boy Album, Latest Naira Marley Album Download, Naira Marley Album, Download Naira Marley Album, Latest Rema Album Download, Rema Album, Download Rema Album, Latest Fireboy DML Album Download, Fireboy DML Album, Download Fireboy DML Album, Download Latest Davido Songs Mp3, Latest Davido Album Download, Davido Album, Download Davido Album, Download Davido Album, Download Latest Bad Boy Timz Songs Mp3, Latest Bad Boy Timz Album Download, Bad Boy Timz Album, Download Bad Boy Timz Album, Latest Bad Boy Timz Album Download, Bad Boy Timz Album, Download Bad Boy Timz Album, Download Latest Tems Songs Mp3, Latest Tems Album Download, Tems Album, Download Tems Album, Latest Tems Album Download, Tems Album, Download Tems Album, Download Latest Teni Songs Mp3, Latest Teni Album Download, Teni Album, Download Teni Album, Download Latest Dbanj Songs Mp3, Latest Dbanj Album Download, Dbanj Album, Download Dbanj Album, Latest Dbanj Album Download, Dbanj Album, Download Dbanj Album, Download Latest Oladips Songs Mp3, Latest Oladips Album Download, Oladips Album, Download Oladips Album, Download Latest Mayorkun Songs Mp3, Latest Mayorkun Album Download, Mayorkun Album, Download Mayorkun Album, Latest Mayorkun Album Download, Mayorkun Album, Download Mayorkun Album, Download Latest Nicki Minaj Songs Mp3, Download Latest Nicki Minaj Songs Mp3, Latest Nicki Minaj Album Download, Nicki Minaj Album, Download Nicki Minaj Album, Latest Nicki Minaj Album Download, Nicki Minaj Album, Download Nicki Minaj Album, Download Latest Shatta Wale Songs Mp3, Latest Shatta Wale Album Download, Shatta Wale Album, Download Shatta Wale Album, Latest Shatta Wale Album Download, Shatta Wale Album, Download Shatta Wale Album, Download Latest Burna Boy Songs Mp3, Latest Burna Boy Album Download, Burna Boy Album, Download Burna Boy Album, Latest Burna Boy Album Download, Burna Boy Album, Download Burna Boy Album, Download Latest Naira Marley Songs Mp3, Latest Naira Marley Album Download, Naira Marley Album, Download Naira Marley Album, Latest Naira Marley Album Download, Naira Marley Album, Download Naira Marley Album, Download Latest Peruzzi Songs Mp3, Latest Peruzzi Album Download, Peruzzi Album, Download Peruzzi Album, Latest Peruzzi Album Download, Peruzzi Album, Download Peruzzi Album, Download Latest Mohbad Songs Mp3, Latest Mohbad Album Download, Mohbad Album, Download Mohbad Album, Latest Mohbad Album Download, Mohbad Album, Download Mohbad Album, Download Latest Lil kesh Songs Mp3, Latest Lil kesh Album Download, Lil kesh Album, Download Lil kesh Album, Latest Lil kesh Album Download, Lil kesh Album, Download Lil kesh Album, Download Latest C Blvck Songs Mp3, Latest C Blvck Album Download, C Blvck Album, Download C Blvck Album, Latest C Blvck Album Download, C Blvck Album, Download C Blvck Album, Download Latest C Black Songs Mp3, Latest C Black Album Download, C Black Album, Download C Black Album, Latest C Black Album Download, C Black Album, Download C Black Album, Download Latest Jhybo Songs Mp3, Latest Jhybo Album Download, Jhybo Album, Download Jhybo Album, Latest Jhybo Album Download, Jhybo Album, Download Latest Barry Jhay Songs Mp3, Latest Barry Jhay Album Download, Barry Jhay Album, Download Barry Jhay Album, Latest Barry Jhay Album Download, Barry Jhay Album, Download Barry Jhay Album, Download Latest Seyi Vibez Songs Mp3, Latest Seyi Vibez Album Download, Seyi Vibez Album, Download Seyi Vibez Album, Latest Seyi Vibez Album Download, Seyi Vibez Album, Download Seyi Vibez Album, Download Latest Mr Benson Songs Mp3, Latest Mr Benson Album Download, Mr Benson Album, Download Mr Benson Album, Latest Mr Benson Album Download, Mr Benson Album, Download Mr Benson Album, Download Latest Zlatan Songs Mp3, Latest Zlatan Album Download, Zlatan Album, Download Zlatan Album, Latest Zlatan Album Download, Zlatan Album, Download Zlatan Album,Download Latest Small Doctor Songs Mp3, Latest Small Doctor Album Download, Small Doctor Album, Download Small Doctor Album, Latest Small Doctor Album Download, Small Doctor Album, Download Small Doctor Album, Download Latest Zinoleesky Songs Mp3 , Latest Zinoleesky Album Download, Zinoleesky Album, Download Zinoleesky Album, Latest Zinoleesky Album, Zinoleesky Album, Download Zinoleesky Album, Download Latest Lyta Songs Mp3, Latest Lyta Album Download, Lyta Album, Download Lyta Album, Latest Lyta Album, Lyta Album, Download Lyta Album, Download Latest Orezi Songs Mp3, Latest Orezi Album Download, Orezi Album, Download Orezi Album, Latest Orezi Album, Orezi Album, Download Orezi Album, Download Latest Dotman Songs Mp3, Latest Dotman Album Download, Dotman Album, Download Dotman Album, Latest Dotman Album, Dotman Album, Download Dotman Album, Download Latest Selebobo Songs Mp3, Latest Selebobo Album Download, Selebobo Album, Download Selebobo Album, Latest Selebobo Album, Selebobo Album, Download Selebobo Album, Download Latest Oritse Femi Songs Mp3, Latest Oritse Femi Album Download, Oritse Femi Album, Download Oritse Femi Album, Latest Oritse Femi Album, Oritse Femi Album, Download Oritse Femi Album, Download Latest Yonda Songs Mp3, Latest Yonda Album Download, Yonda Album, Download Yonda Album, Latest Yonda Album, Yonda Album, Download Yonda Album, Download Latest Rexxie Songs Mp3, Latest Rexxie Album Download, Rexxie Album, Download Rexxie Album, Latest Rexxie Album, Rexxie Album, Download Rexxie Album, Download Latest Adekunle Gold Songs Mp3, Latest Adekunle Gold Album Download, Adekunle Gold Album, Download Adekunle Gold Album, Latest Adekunle Gold Album, Adekunle Gold Album, Download Adekunle Gold Album, Download Latest Simi Songs Mp3, Latest Simi Album Download, Simi Album, Download Simi Album, Latest Simi Album, Simi Album, Download Simi Album, Download Latest Chinko Ekun Songs Mp3, Latest Chinko Ekun Album Download, Chinko Ekun Album, Download Chinko Ekun Album, Latest Chinko Ekun Album, Chinko Ekun Album, Download Chinko Ekun Album, Download Latest Falz Songs Mp3, Latest Falz Album Download, Falz Album, Download Falz Album, Latest Falz Album, Falz Album, Download Falz Album, Download Latest Bella Shmurda Songs Mp3, Latest Bella Shmurda Album Download, Bella Shmurda Album, Download Bella Shmurda Album, Latest Bella Shmurda Album, Bella Shmurda Album, Download Bella Shmurda Album, Download Latest Danny S Songs Mp3, Latest Danny S Album Download, Danny S Album, Download Danny S Album, Latest Danny S Album, Danny S Album, Download Danny S Album, Download Latest Danny S Songs Mp3, Latest Danny S Album Download, Danny S Album, Download Danny S Album, Latest Danny S Album, Danny S Album, Download Danny S Album, Download Latest Dice Ailes Songs Mp3, Latest Dice Ailes Album Download, Dice Ailes Album, Download Dice Ailes Album, Latest Dice Ailes Album, Dice Ailes Album, Download Dice Ailes Album