Saturday, November 27, 2021

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MTN Rakes Revenue of N1.2trn in 9 Months

Nigerian telecommunications giant,  MTN Nigeria Communications Plc (MTNN) raked in revenue in excess of N1.2 trillion ($2.926Billion USD between January to September 2021. This is according to the unaudited financial statement of the company issued Thursday, October 28.

The huge revenue resulted from the ever increasing  demand for data by Nigerians.

The full financial report for the whole of 2020 showed figures for that year as  N1.3Trillion ($3.170Billion USD) . Therefore, the current revenue  of 2020 (N1.2Trillion) ( covering only a period of 9-months exceeded all expectations.

Pre-tax profit jumped more than half to N321.4 billion, profit for the period stood at N220.312 billion, 52.7 per cent stronger than what was reported for the same period of last year.

“Our focus on deepening our partnerships has resulted in signing a five-year strategic partnership with the Nigerian Football Federation to become the official communications partner,” said CEO Karl Toriola.

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