MTN Nigeria hits 1.2 trillion naira sales in 9 months

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Telecom giant MTN Nigeria Communications Plc (MTNN) has posted revenue of over N1.2 trillion for the period from January to September 2021, on the back of Nigerians’ fast-increasing demand for data. This informant was gathered from the unaudited financial statement of the company issued last Thursday.

With this figure, MTNN has reached a milestone that makes it the first ever public company in the country to record a revenue that high for a nine-month period, putting it on track to surpass this year its full-year sales figure for 2020 when it reported N1.3 trillion.

 

Are we surprised? Not in the least! Internet data has become a most-have in the Nigeria social community. The increased online activities of as well as entrepreneurs and fintech companies has having data on devices a priority.

The Nigerian unit of Africa’s biggest telecommunications firm, Johannesburg-based MTN Group, noted in a separate statement seen by PREMIUM TIMES that active data users expanded by 2.5 million to 33.2 million within the period.

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But a major downside of its performance was a slump in its mobile subscriber’s figure, which fell by 7.5 million to 67.5 million. The telco cited regulatory bottlenecks on new SIM activations and sales as the trigger.

Pre-tax profit jumped more than half to N321.4 billion, profit for the period stood at N220.312 billion, 52.7 per cent stronger than what was reported for the same period of last year.

The stock gained 0.92 per cent in Lagos on Thursday, rising to N175.60 per share following the news.

“Our focus on deepening our partnerships has resulted in signing a five-year strategic partnership with the Nigerian Football Federation to become the official communications partner,” said CEO Karl Toriola.

“We are excited about the potential to combine the power of our network and technology solutions with the passion that Nigerians have for football.”

Worthy of mention is the fact that MTN Nigeria continues to occupy the top spot when it comes to volume of internet data bought and used by subscribers. Foremost MTN data on sale is the MTN SME Data, which is being traded on kingsvtu.com and xpinomoney for portal owners, vendors and end users.

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