MTN Nigeria Communications Plc has reported a profit after tax of N133.7 billion for the first quarter of 2025, recovering from a loss of N392.7 billion recorded in the same period in 2024.
The company’s financial results, released on the Nigerian Exchange Limited (NGX) on Monday, show a profit before tax of N202.55 billion in Q1 2025. This contrasts with a loss of N390.67 billion in Q1 2024. Total revenue rose by 40.5 percent, reaching N1.06 trillion, compared to N752.96 billion in the previous year.
MTN said it invested N202.4 billion in the first quarter of 2025 to expand and upgrade its network infrastructure. This is a 159 percent increase from its capital expenditure in the same period last year.
Chief Executive Officer of MTN Nigeria, Mr. Karl Toriola, said the company’s performance reflects the execution of its strategic priorities and demand for its services. He also stated that the results build on the progress made in the last quarter of 2024.
Mr. Toriola mentioned that despite ongoing economic challenges, the company noted some signs of stability, including a more stable naira and a slowdown in inflation after the rebasing of the Consumer Price Index (CPI) in January 2025. The exchange rate stood at N1,537 to the dollar at the end of March 2025, while inflation was reported at 24.2 percent.
He confirmed that MTN received regulatory approval for pricing adjustments during the quarter, which, according to him, helped support continued investments and maintain service quality.
MTN also stated that it is exploring partnerships for infrastructure sharing. It recently signed an agreement with Airtel Africa for passive infrastructure collaboration in Nigeria, which is expected to support network expansion and reduce operational costs.
The company attributed the reported profit to the implementation of five key strategies introduced during its extraordinary general meeting held on April 30, 2024.
