{
  "id": 17431326,
  "title": "MTN Nigeria’s 9M pre-tax profit rises 59.4% to N1.80 trillion as revenue hits N4.61 trillion",
  "url": "https://urgent.news/2026/10/31/mtn-nigerias-9m-pre-tax-profit-rises-59-4-to-n1-80-trillion-as",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-31T16:23:28.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/10/31/mtn-nigerias-9m-pre-tax-profit-rises-59-4-to-n1-80-trillion-as-revenue-hits-n4-61-trillion/"
  },
  "original_language": "en",
  "account": "MTN Nigeria Communications Plc reported a remarkable 59.4% surge in pre-tax profit to N1.80 trillion over the nine months leading up to September 30, 2026, marking a substantial improvement from N1.13 trillion during the same period in 2025. This financial growth was fueled by robust data revenue, a rise in subscriber numbers, and a sharper increase in operating margins. For the third quarter alone, pre-tax profit climbed by 39.6% to N704.1 billion, up from N504.2 billion in Q3 2025, indicating sustained earnings momentum.\n\nThe company's audited consolidated financial statements, released on October 30, 2026, detailed a 23.6% increase in revenue to N4.61 trillion, up from N3.73 trillion. This revenue expansion led to higher profitability, with operating profit growing by 38.2% to N1.99 trillion, and profit after tax soaring by 55.3% to N1.17 trillion, while earnings per share rose to N55.60 from N35.80. Additionally, EBITDA surged by 36.8% to N2.62 trillion, and EBITDA margin improved to 56.9% from 51.4%.\n\nKey financial highlights include:\n- Revenue: N4.61 trillion (+23.6% YoY from N3.73 trillion)\n- Service revenue: N4.59 trillion (+23.7% YoY from N3.71 trillion)\n- EBITDA: N2.62 trillion (+36.8% YoY from N1.92 trillion)\n- EBITDA margin: 56.9% (+5.5 percentage points from 51.4%)\n- Operating profit: N1.99 trillion (+38.2% YoY from N1.44 trillion)\n- Total assets: N5.97 trillion (+10.6% from N5.40 trillion)\n- Total shareholders’ equity: N843.91 billion (+53.8% from N548.71 billion)\n\nMTN Nigeria's Chief Executive Officer, Karl Toriola, attributed the company's improved third-quarter performance and stronger operating margins to higher customer usage, rising data adoption, and continued network infrastructure investments. He emphasized the group's robust financial footing, noting that borrowings were fully denominated in naira with fixed interest rates. Management reiterated medium-term guidance for service revenue growth averaging at least 20% and EBITDA margin in the mid-to-high 50% range.\n\nNotably, fintech revenue declined by 25.9% to N97.5 billion, reflecting the temporary suspension of the company's airtime and data credit service between April and June 2026. Despite this, mobile subscriber numbers increased by 10.9% to 94.7 million. Fibre-to-the-home services contributed approximately 13% of total data traffic, highlighting the growing role of home broadband.\n\nOperating expenses rose by 8.5% to N1.42 trillion, a significant increase below the 23.6% revenue growth. Consequently, EBITDA and EBITDA margin showed robust improvement. Finance costs declined to N359.58 billion, and finance income rose to N82.58 billion, with a notable net foreign exchange gain of N80.14 billion. Total borrowings decreased by 36.8% to N333.32 billion, while shareholders’ equity expanded by 53.8% to N843.91 billion, bolstered by retained earnings. Cash flow from operations increased to N2.31 trillion, with free cash flow expanding by 57.5% to N1.17 trillion, underscoring enhanced cash-generating capabilities.",
  "summary": "MTN Nigeria Communications Plc recorded a 59.4% increase in pre-tax profit to N1.80 trillion for the nine months ended September 30, 2026 The post MTN Nigeria’s 9M pre-tax profit rises 59.4% to N1.80 trillion as revenue hits N4.61 trillion appeared first on Nairametrics .",
  "key_points": [
    "MTN Nigeria's pre-tax profit rose 59.4% to N1.80 trillion in nine months to September 2026.",
    "Revenue increased 23.6% to N4.61 trillion, up from N3.73 trillion.",
    "EBITDA margin improved to 56.9% from 51.4%."
  ],
  "editors_take": null,
  "illustration": "https://urgent.news/ill/17431326.png",
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch Nigeria",
        "title": "MTN Nigeria’s nine-month profit rises 55% to N1.17tn",
        "url": "https://urgent.news/2026/10/31/mtn-nigerias-nine-month-profit-rises-55-to-n1-17tn",
        "published": "2026-10-31T14:36:51.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}