MTN Nigeria Communications Plc has announced its unaudited results for the quarter ended March 31, 2021 with mobile subscribers declining by 5 million to 71.5 million due to the effects of customer churn and the regulatory restrictions on new SIM sales and activations.
Active data users also declined marginally by 71,000 to 32.5 million although service revenue increased by 17.2 per cent to N385.2 billion. Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 19.1 per cent to N204.5 billion.
Capital expenditure was up by 19.3 per cent to N89.9 billion (up 27.8 per cent to N31.6 billion excluding right of use [RoU] assets). The Profit Before Tax grew by 33.9 per cent to N102.9 billion.
Commenting on the result, MTN Nigeria CEO, Karl Toriola said: “We made good progress in the first quarter of 2021 despite the continued impact of the COVID-19 pandemic. We continue to prioritise the safeguards put in place to protect the health and well-being of our people, customers and stakeholders and to control the spread of the virus while ensuring network resilience and efficiency.
As part of our Y’ello Hope initiatives, we continue to support government’s efforts in combatting the COVID-19 pandemic. We supported the most vulnerable in our communities, providing them with free-to-access services (including SMS and data) as well as essential medical supplies (tests and personal protective equipment).