MTN Nigeria Records N1.2trn Net Profit In 9Months As Data Drives Growth

No Result View All Result Home News Politics Business Sport Football Health Entertainment Education Opinion Editorial Columns Others LeVogue Magazine Conferences National Economy Contact Us Hausa Edition Home News Politics Business Sport Football Health Entertainment Education Opinion Editorial Columns Others LeVogue Magazine Conferences National Economy Contact Us No Result View All Result No Result View All Result MTN Nigeria Records N1.2trn Net Profit In 9Months As Data Drives Growth by Olushola Bello 16 minutes ago in Business Share on WhatsAppShare on FacebookShare on XTelegram MTN Nigeria Communications (MTNN) Plc has recorded profit after tax growth of l 55.3 per cent to N1.2 trillion in its nine-month financial results for the period ended September 30, 2026.

The telco in its unaudited results released on the Nigerian Exchange showed that service revenue grew by 23.7 per cent year-on-year to N4.6 trillion, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 36.8 per cent to N2.6 trillion.

EBITDA margin expanded by 5.5 percentage points to 56.9 per cent, with Q3 margin widening to 58.7 per cent, comfortably within its medium-term guidance of low-20s revenue growth and mid-to-high-50s margin.

Earnings per share also rose 55.3 per cent to N55.6, while free cash flow grew 57.5 per cent to N1.2 trillion, reflecting strong cash generation despite increased network investment.

The chief executive officer, MTNN, Karl Toriola, said the company delivered a very strong third quarter, reversing the temporary slowdown in Q2.

“We delivered a very strong third quarter, reversing the temporary slowdown in Q2. Service revenue grew 19.7 per cent, with growth accelerating each month to 21.6 per cent in September. Profitability grew even faster: Q3 EBITDA rose 32.8 per cent and the EBITDA margin widened by 5.8pp to 58.7 per cent,” Toriola said.

He said growth is increasingly volume-led, driven by more users, deeper data adoption and rising demand for home broadband.

On revenue segments, data remained the main growth driver, up 35.8 per cent, with Q3 growth at 31.4 per cent. Voice revenue grew 11.1 per cent, digital services rose 24 per cent, and enterprise revenue increased 6.5 per cent.

Home broadband is becoming a key contributor, with FTTH now carrying about 13 per cent of total data traffic, helping to free up capacity on the mobile network.

In fintech, core mobile money revenue more than doubled by 102.2 per cent, driven by higher float income as wallet balances more than quadrupled to N43.8 billion from December 2025. Overall fintech revenue declined 25.9 per cent due to the suspension of airtime and data credit service between April and June, but recovered in Q3 with 78.5 per cent growth over Q2.

The company said its expense-efficiency programme delivered operating leverage, with operating expenses rising by 8.5 per cent, well below revenue growth and inflation, aided by a stronger naira at N1,329 per dollar and VAT input claims.

Net finance costs fell 25.3 per cent to N277 billion, while a net foreign exchange gain of N80.1 billion further boosted earnings.

CAPEX excluding leases rose 14.2 per cent to N864.8 billion, with intensity at 18.7 per cent, as investment accelerated in Q3 by 69.1 per cent to expand coverage and support home broadband growth.

MTN closed the period with a net cash position of N47.7 billion after paying N860.8 billion in dividends covering full year 2025 final and 2026 interim. Its balance sheet remains fully naira-denominated and at fixed rates.

The telco reaffirmed its guidance of average service revenue growth of at least low-20 per cent and EBITDA margin in the mid-to-high-50 per cent range, saying it enters the final quarter with confidence.

We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →