MTN makes N97b profit, rides on N218.41b intake from voice
By Jeph Ajobaju, Chief Copy Editor
MTN made N97 billion profit in the first quarter of 2022 (Q1 2022), riding on voice revenue worth N218.41 billion or 46 per cent of total earnings.
The financial results of the telecommunication market leader show that Q1 2022 profit is a 31.28 per cent rise versus N74 million in Q1 2021.
There were impressive returns from all revenue streams, including Voice, Data, Interconnect & Roaming, SMS, Digital, and Value-added services.
MTN Nigeria Chief Executive Officer Karl Toriola had disclosed on 28 April that the network currently has more than 68.8 million voice subscribers and 34 million data subscribers.
He gave the figures at the unveiling of a telecom media partnership, tagged ‘Media Innovation Programme (MIP)’, with Pan-Atlantic University (PAU) in Lagos.
The latest financials show that profit was driven by high sales of reportable segments, mostly Voice, Data, Interconnect & Roaming.
These two and other segments delivered a combined revenue N470.98 billion in Q1 2022 compared with N385.32 billion in Q1 2021.
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Further breakdown
Below are further details of the financial result in Q1 2022 against Q1 2021, according to reporting by Nairametrics.
- Voice – N218.41 billion (up 4.69 per cent). It is 46 per cent of total revenue.
- Data – N163.31 billion (up 54 per cent)
- Interconnect and roaming – N46 billion (up 16 per cent)
- Interest income on bank deposits – N3.89 billion
- Operating expenses – increased about 5 per cent
- Long term borrowing – N324.54 billion
- Total assets – N2.46 trillion
- Net assets – N356.98 billion (up 34.72 per cent)
- Dividend – N8.57 kobo for full year 2021 (FY 2021), paid on 28 April 2022
- Earnings per share – N4.76 (up 31.49 per cent on N3.62 in Q1 2021)