Guest Join UsHey Guest,
Welcome, Join our awesome community where you can discuss on various topics :-
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Much More.. or Create an Account

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
MTN Nigeria Revenue Rises To N100 Billion Monthly In 2020
Quote:MTN Nigeria reported a half-year revenues of N638 billion in 2020 compared to N566.9 billion reported same period last year. The 12.5% pop was driven by growth in data revenues in the first and second quarters of the year.

The company reported a 49% growth in data revenues in the second quarter of 2020 as its Nigerian customers guzzled more data in the ensuing Covid-19 economic shutdown.

The revenues reported in the first half of 2020 now translate to about N100 billion monthly in revenues, a company and Nigerian Stock Market record, according to Nairametrics Research. Revenues averaged N97 billion monthly in 2019 and N86.5 billion in 2018.

Key highlights
In the second quarter of 2020 total revenues rose 8.5% to N308.9 billion driven largely by higher data revenues.

Data revenues jumped from N56.7 billion to N79.9 billion in the quarter under review confirming the growing reliance Nigerians have on data for communication.

Call revenues, the company’s mainstay suffered a 1% drop to N176.2 billion suggesting a drop in its average revenue per user. Call revenues make up about 68% of its service revenues. Mobile subscriber growth was just 3.8% in the quarter.
Revenues from its Fintech division fell 7.7% to N10.2 billion in the quarter. It however rose by 29.6% in the first half of 2020 compared to the year before.

MTN has aggressively pushed its Fintech business leveraging on its economies of scale to gobble market share.
Pre-tax Profits for the quarter was N62.2 billion down 13.4% YoY.

Earnings per share N2.11/N2.4 15.6% up QoQ. The earnings per share dip was due to higher operating expenses.

[Image: 12612036_mtnmomo1_jpeg05c896415c8e5d894cc5d2f4abae1756]


Possibly Related Threads...
Thread Author Replies Views Last Post
  Finance Act: Disquiet As FG Targets ₦850 Billion From Dormant Accounts Edoman 0 27 01-17-2021, 11:43 AM
Last Post: Edoman
  Onne Customs generates N118.9b revenue Edoman 0 27 01-16-2021, 09:13 AM
Last Post: Edoman
  Nigeria records highest jump in food inflation since 2016 j Edoman 0 44 01-15-2021, 04:47 PM
Last Post: Edoman
  Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 Edoman 0 42 01-13-2021, 08:20 AM
Last Post: Edoman
  Nigeria Customs Service generated ₦1.5 trillion in 2020 Edoman 0 53 01-07-2021, 01:22 AM
Last Post: Edoman
  Nigeria’s debt increases to ₦32.2trillion Edoman 0 59 12-31-2020, 11:36 PM
Last Post: Edoman
  Financial Times slams Buhari's government, says Nigeria is close to becoming a failed Edoman 0 74 12-23-2020, 08:14 AM
Last Post: Edoman
  FG Approves $2 Billion For First Phase Of $4.6 Billion Ibom Deep Seapor Edoman 0 63 12-22-2020, 08:55 AM
Last Post: Edoman

Users browsing this thread: 1 Guest(s)


About contripeople

Contripeople forum description.

              Quick Links

              User Links