MTN records N385.2bn revenue, loses five million users in Q1

Punch Newspapers
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’Femi Asu and Temiloluwa O’Peters
Published 4 May 2021
Published 4 May 2021
MTN Nigeria Communications Plc has reported a profit after tax of N73.75bn for the first quarter of 2021, up 42.35 percent from N51.74bn in the same quarter of last year.
The telecommunications company said its profit before tax rose to N102.99bn in Q1 2021 from N76.91bn in the same period last year.
Its revenue increased by 17.06 per cent to N385.32bn from N329.17bn, according to its unaudited financial statements.
The telco said its mobile subscribers declined by five million to 71.5 million in the first quarter of 2021 due to the effects of customer churn and the regulatory restrictions on new SIM sales and activations.

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