MTN Nigeria Plc Records N568 Billion Reveue

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MTN Nigeria Plc has generated a 20.6% increase in total revenue to N568.136 billion for the first three months of operation this year, from the N470.984 billion it recorded in the corresponding period of 2022.

The company made this known in its unaudited report filed to the NGX on Thursday.

it also announced a profit after tax of N101.303 billion for the period under review, representing an 8.5 per cent increase over the N96.819 billion attained last year.

While its expenses rose by 24.2% to N265.49 billion from N213.85 billion in 2022, the cost of sales rises by 15.6% from N79.569 billion in 2022 to N91.987 billion this year.

Also, Mobile subscribers increased by 9.4% to 76.7 million, adding 1.1 million subscribers in Q1 2023.

Commenting, MTN Nigeria CEO, Karl Toriola, said the company experienced headwinds in its operating environment in the first quarter of 2023.

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