+- Forums (http://contripeople.com)
+-- Forum: General Discussion (http://contripeople.com/forumdisplay.php?fid=5)
+--- Forum: Market Place (http://contripeople.com/forumdisplay.php?fid=77)
+--- Thread: MTN posts N48.4bn profit after tax in Q1 (/showthread.php?tid=17230)
MTN posts N48.4bn profit after tax in Q1 - Edoman - 05-14-2019
MTN posts N48.4bn profit after tax in Q1
![[Image: mtn-1.gif?resize=600%2C377&ssl=1]](https://i1.wp.com/cdn.vanguardngr.com/wp-content/uploads/2019/04/mtn-1.gif?resize=600%2C377&ssl=1)
MTN Nigeria Plc has announced N48.4 billion Profit After Tax, PAT, for its first quarter, Q1, ended March 31, 2019, representing 50.2 percent increase compared to N32.2 billion recorded in the corresponding period in 2018.
Highlights of financial results showed that the company grew its revenue by 13.2 percent to N282 billion driven by voice, which accounted 74.9 percent of the total revenue. Data business, according to the company, contributed 16.6 percent to the total revenue, while Fintech and digital businesses accounted for 2.9 percent and one percent of the total revenue respectively. Other sources accounted for 4.5 percent. Earnings before interest, tax, depreciation and amortization (EBITDA) margin improved to 53.3 percent in Q1’19 from 41.8 percent in Q1’18. Further breakdown of the result showed that Average Revenue Per User (ARPU) improved by 1.1 percent Year-on-Year (Y/Y) to N1,510, total subscribers increased by 3.6 percent to 60.3 million, while data subscribers improved by 5.6 million to 20.4 million.
According to the company, it remained undisputed leader in the telecom industry with market share by subscribers and value of 39 percent and 50 percent respectively. Meanwhile, the company said it plans to issue N200 billion Commercial Paper, CP, before the end of this year, while it expects 47 million new mobile subscribers in the next four years to 2023 with mobile penetration estimated at 91.8 percent for Nigeria. “Smartphone penetration is expected to increase to 95 percent in 2023 from 47 percent in 2018,” it said, adding that low data penetration and 4G coverage presents opportunities for data revenue growth, while low level of banking penetration is expected to support Fintech revenue going forward. Recall that MTN announced the successful completion of the registration of 20.35 billion ordinary shares of N0.02 each with the Securities and Exchange Commission (SEC) last week, thus paving way for its listing by Introduction, which is expected to take place in the first half (H1) 2019.