• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, August 7, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

MTNN Records N100.49bn Net Profit In Q1

by Olushola Bello
2 years ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

 

Advertisement

MTN Nigeria Communications Plc (MTN Nigeria) recorded N100.491 billion profit after tax(PAT) in its unaudited results for the first quarter (Q1) ended March 31, 2023.

The unaudited Q1 results released on the Nigerian Exchange Limited showed that, revenue grew by 20.63 to N568.136 billion from N470.984 billion in Q1, 2022.

Operating profit stood at N206.619 billion as against N179.325 billion, an increase of 15.22 per cent. Profit before taxation was up to N155.784 billion from N143.587 billion, while profit for the period amounted to N100.491 billion from N96.819 billion. Earnings per share rose by 3.79 per cent to N4.94 compared to N4.76 in Q1, 2022.

Also, mobile subscribers increased by 9.4 per cent to 76.7 million, with an addition of 1.1 million subscribers in Q1, 2023; while active data users increased by 14.7 per cent to 41.2 million, recorded new 1.7 million active users in Q1, 2023

RELATED

Kano Govt Renames KUST After Dangote

Dangote Sees Growth In Export Of Refined Products With $1.35Bn Afreximbank’s Deal

8 hours ago
Egbin Power Advances Energy Transition Drive, Appoint New CEO

‘Egbin Power Plc, Ikeja Electric, FIPL Not In Receivership’

8 hours ago

Active mobile money (MoMo PSB) wallets increased by 1.2 million in Q1 to 3.2 million, while service revenue increased by 20.5 per cent to N565.9 billion.

Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 17.7 per cent to N302.7 billion, EBITDA margin declined by 1.3 percentage points (pp) to 53.3 per cent, while capital expenditure (Capex) declined by 25.8 per cent to N120.5 billion.

Speaking on the results, CEO of MTN Nigeria, Karl Toriola said: “we continued to experience headwinds in our operating environment in the first quarter of 2023. The impacts of the ongoing global macroeconomic and geopolitical developments on energy, food and general inflation were exacerbated locally by petrol and cash shortages experienced during the period.

“This placed additional pressure on economic activity, consumers and businesses. The private sector experienced the deepest contraction in March 2023 since the recovery from the COVID-19 pandemic, driving down the PMI index to 42.3 points from 44.7 points in February 2023.”

On outlook, Toriola said: “our focus is to continue enhancing the capacity of our network, accelerating 4G and 5G coverage to accommodate the rising data traffic and expanding rural coverage. We will continue to drive our home broadband strategy leveraging our 5G fixed wireless access device penetration and increased fibre deployment in key clusters to capture a significant share of market growth.”


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




SendShareTweetShare
Previous Post

Guinea Insurance ED To Set Standards In Forensic Accounting, Auditing

Next Post

NPA, BPE Commend APM Terminals For Transformation At Port

Olushola Bello

Olushola Bello

You May Like

Kano Govt Renames KUST After Dangote
Business

Dangote Sees Growth In Export Of Refined Products With $1.35Bn Afreximbank’s Deal

2025/08/07
Egbin Power Advances Energy Transition Drive, Appoint New CEO
Business

‘Egbin Power Plc, Ikeja Electric, FIPL Not In Receivership’

2025/08/07
NIMR Faces Power Outage Over ₦38m Debt
Business

Nigeria’s Power Market To Hit $503.67m By 2030 – Report

2025/08/07
FAAN Signs Capacity Building MoU With Dubai-based Firm
Business

Expansion Of Terminal 2 Part Of Airport Renovation – FAAN

2025/08/07
Niger/Kogi Customs Seize Car, Others Worth N755m
Business

Ahead Of Take-off, Customs Engage Importers, Operators On AEO Migration

2025/08/07
Kogi Stakeholders Task Federal Gov’t On Ending Benue Killings
Business

Aviation Workers Ask Tinubu To Cancel Airport Concessions Nationwide

2025/08/07
Leadership Conference advertisement

LATEST

Federal Gov’t Sacks 15 Prison Officers, Sanctions 216

Tinubu Names Ramat As NERC Chair, Appoints 2 Commissioners

Gunmen Kill 2, Abduct 3 In Kwara

Can Corporate Charity Fill Africa’s Healthcare Gaps?

Kano Gov Mourns Murdered Aide, Orders Investigation

Ex-Niger North Senator Ibrahim Dies

Rivers Police Dismantle Interstate Car Snatching Syndicate

FCT Polls: Crisis Rocks APC Over Alleged Plan To Drop Chairmanship Candidate

A Case for Corporate Social Responsibility to Empower Communities in Nigeria

Minister Orders Placement Of KWAM 1 On No-Fly List

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.