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MTN Nigeria Communications Plc reported an impressive 42.5% increase in its Q1 2021 profit after tax, it still had a few issues to worry about. Said worries stemmed from the dramatic declines in the telco’s mobile subscribers and active data users, as you shall see shortly. An Overview of MTN Nigeria’s Q1 2021 Financials Chief Executive Officer, Karl Toriola, wasn’t wrong when he commented on the company’s Q1 financial performance saying: “We made good progress in the first quarter of 2021 despite the continued impact of the COVID-19 pandemic.” This is because to...

Punch Newspapers Sections ’Femi Asu and Temiloluwa O’Peters Published 4 May 2021 Published 4 May 2021 MTN Nigeria Communications Plc has reported a profit after tax of N73.75bn for the first quarter of 2021, up 42.35 percent from N51.74bn in the same quarter of last year. The telecommunications company said its profit before tax rose to N102.99bn in Q1 2021 from N76.91bn in the same period last year. Its revenue increased by 17.06 per cent to N385.32bn from N329.17bn, according to its unaudited financial statements. The telco said its mobile subscribers declined by five million to 71.5 m...

MTN Nigeria Communications Plc, yesterday, released its unaudited results for the quarter ended 31 March 2021. According to the report of the results, its mobile subscribers declined by 5 million to 71.5 million due to the effects of customer churn and the regulatory restrictions on new SIM sales and activations. The telelecoms company’s active data users also declined marginally by 71,000 to 32.5 million. However, its service revenue increased by 17.2 per cent to N385.2 billion, while Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) grew by 19.1 per cent to N204.5 bil...

Investegate announcements from ADM InvestorServices, Form 8.3 - Telit Communication Plc

MTN Nigeria Communications Plc, is considering approaching the local debt market to borrow N200 billion. The firm with the highest mobile phone subscribers in the country said the funds would be obtained through the sale of bonds. The company has already secured the approval of the Securities and Exchange Commission (SEC) to launch a N200 billion bond issuance programme. It stated that this route is being followed because it aligns with its strategy of diversifying its funding sources. Recall that last month, MTN Nigeria sold commercial papers worth N100 billion to investors and the proceeds ...