Telecommunications company, MTN Nigeria Plc has released its Q1 2022 financial results revealing a profit of N97 billion. This reflects a whopping 31.28% increase compared to N74 million in the corresponding period of 2021.
The period in review witnessed impressive returns from the company’s segments which are Voice, Data, Interconnect & Roaming, SMS, Digital, Value-added services, and other revenue lines.
A cursory view of the result shows that the company’s profit was driven by significant sales of the company’s reportable segments, mostly by Voice, Data, Interconnect and roaming segments.
NewsBeatng reports that the company’s segments delivered a combined revenue of N470.98 billion in Q1 2022 compared to N385.32 billion in the same period of 2020.
Voice revenue raked in N218.41 billion during the period to appreciate by 4.69%, representing 46% of the total revenue. While data revenue generated N163.31 billion, up 54% from prior-year period.
Interconnect and roaming revenue grew by 16% to generate N46 billion.
In addition, the company also made money from interest income on bank deposits, generating N3.89 billion.
The company’s operating expenses increased by roughly 5%.
A further look at the financial results showed that the company’s long term borrowing stood at N324.54 billion, while its total assets are now at N2.46 trillion, net assets grew 34.72% to N356.98 billion.
MTN Nigeria Plc had declared a dividend of N8.57 kobo for FY 2021, which was paid on April 28, 2022, while Earnings per share for the Q1 2022 period is N4.76, a 31.49% growth from N3.62 in Q1 2021.
