MTN Nigeria escapes from loss to N133.7bn profit in Q1 2025
MTN Nigeria Communications Plc on Wednesday declared N133.7 billion profit after tax in eits unaudited first quarter (Q1) ended March 31, 2025 from a loss of N392.7 billion declared in the first quarter ended March 31, 2024.
In the period under review, MTN Nigeria announced N202.55 billion profit before tax in Q1 2025 from a loss of N390.67 billion in Q1 2024.
In Q1 2025, MTN Nigeria announced a total revenue ooof N1.06 trillion, representing an increase of 40.5 per cent from N752.96 billion in Q1 2024.
The telecommunication giant on the Nigerian Exchange Limited (NGX) said it invested N202.4 billion in Q1 2025, a 159 per cent increase year-on-year, to upgrade and expand network infrastructure, enhancing service quality and capacity.
The CEO, MTN Nigeria, Mr. Karl Toriola in a statement said, “We are pleased with our performance in the first quarter of 2025, which reflects the continued execution of our strategic priorities and the resilience of demand for our services.
“Building on the momentum from Q4 2024, our Q1 results place us firmly on the path to restoring profitability and achieving a positive net asset position within the current financial year, while increasing our investments to improve network and service quality.
“Challenging but improving operating conditions Although macroeconomic uncertainties persist, we are encouraged by the relative stability of the naira during the period and the moderation in inflation following the rebasing of the Consumer Price Index (CPI) in January 2025. The exchange rate remained relatively stable at N1,537/US$ at the end of March 2025, while reported inflation was 24.2per cent.”
He said further that, “During the quarter, we received regulatory approval for price adjustments, a critical enabler to sustain ongoing investment in the industry and maintain the quality of service for our customers. This has empowered us to accelerate network investments with N202.4 billion in capex (up 159%), focused on boosting capacity and improving user experience.
“We also continued to explore efficiency-enhancing opportunities through infrastructure-sharing partnerships. A key milestone was the agreement between MTN Group and Airtel Africa to collaborate on passive infrastructure in Nigeria, enabling accelerated coverage and driving network cost efficiencies.”
On outlook, he said, “We remain focused on executing our Ambition 2025 strategy, accelerating network investment, deepening digital and financial inclusion, and restoring shareholder value in a challenging but improving macro environment. We will continue to execute with discipline, agility, and a focus on sustainable growth”
