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Business News of Thursday, 30 April 2020

Source: www.mynigeria.com

Q1 2020: MTN Nigeria's revenue leaps by 16.7%

MTN MTN

MTN Nigeria Communications Plc has released its unaudited condensed consolidated interim financial statements for first quarter 2020. The financial statements demonstrate positive figures across most financial indicators. The breakdown of the report is shown below:

Revenue: MTN Nigeria generated N329.1 billion in revenue as at March 2020, compared to N282.1 billion recorded at the end of the first quarter of 2019. This represents an increase of 16.7%.

Operating Profit: MTN reported N111.2 billion in operating profit as at Q1 2020, as against N93.8 billion in Q1 2019, representing an increase of 18.6%.

Profit Before Tax: As at the end of the first quarter of March 2020, the telco recorded N76.3 billion as profit before tax, up from N70 billion at the end of Q1 2019. This represents an increase of 8.9%.

Profit After Tax: MTN recorded a profit of N51.1 billion for the first quarter of 2020, compared to N48.4 billion recorded at the end of March 2019, representing a 5.6% increase in profit after tax.

Earnings Per Share: The telco recorded an Earnings Per Share of N2.51 kobo for Q1 2020 as against N2.38 kobo recorded as at the end of March 2019.