Prime Business AfricaMTN Nigeria’s total revenue hit N1.05 trillion in the first quarter (Q1) of 2025, surpassing the N752.98 billion recorded between January and March 2024 by 40.5 percent.
In its unaudited financial results for the quarter ended March 31, 2025, data revenue accounted for N529.44 billion, rising by 50.04 percent from N349.51 billion, while voice turnover contributed N407.41 billion to the total revenue, up from N318.92 billion.
Join our WhatsApp ChannelPrime Business Africa’s analysis showed that data revenue accounted for 51.5 percent of the turnover in Q1 this year, compared to the 33.03 percent reported in the corresponding period last year, however, voice contribution dropped to 38.81 percent from 42.35 percent.
The significant increase in data revenue followed the approval by the Nigerian Communications Commission (NCC) for telecommunications companies to increase their data prices by 50 percent.
MTN increased the cost of the 15-gigabyte (GB) plan from N4,500 to N6,500, while the 20GB plan now costs N7,500, up from N5,500.
Also, the cost of a 1.5 terabyte 90-day plan was raised from N150,000 to N240,000, and the 600GB 90-day plan now costs N120,000, up from N75,000.
Furthermore, MTN’s digital services pulled N26.12 billion revenue in Q1 2025, up by 92.1 percent from N13.60 billion generated in the corresponding period last year.
Similarly, fintech revenue, driven by the airtime lending product (Xtratime), accounted for N36.08 billion, rising by 57.9 percent from N22.84 billion.
During the quarter in review, MTN reported that expenses grew by 23.9 percent from N456.02 billion to N565.22 billion.
Also, the network provider reduced its exposure to weak naira, as the net foreign exchange losses dropped significantly to N5.52 billion from N656.36 billion.
The 99.2 percent decline in net foreign exchange losses contributed to MTN turning a profit, as the company reported N202.64 billion profit after tax (PBT) last year’s first quarter, against the N575.69 billion loss before tax recorded in Q1 2024.
With N68.96 billion filed as income tax during the reviewed period, MTN recorded N133.68 billion profit after tax (PAT), exiting the N392.69 billion net loss of Q1 2024.
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