MTN Nigeria Communications Plc has declared a profit after tax of N133.7 billion for the first quarter (Q1) ended March 31, 2025, from a loss of N392.7 billion recorded in the first quarter of 2024.
From the profit & loss figures, the company announced a N202.55 billion profit before tax in Q1 2025 from a loss of N390.67 billion in Q1 2024.
The telecommunication on the Nigerian Exchange Limited (NGX) on Monday, recorded a total revenue of N1.06 trillion, representing an increase of 40.5 per cent from N752.96 billion in Q1 2024.
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.
Speaking on the report, the MTN Nigeria Communications CEO, Karl Toriola, 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.”
“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 159per cent), 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.”
“Overall, we reported a significant turnaround in our bottom line, with a profit after tax of N133.7 billion versus a loss of N392.7 billion in the prior year. This performance reflects the successful delivery of the five strategic priorities we committed to at the Extraordinary General Meeting (EGM) held on 30 April 2024.”
