Telecommunications giant MTN Nigeria said its net profit dropped from N149.22bn (about $392.12 million) to N144.23bn (about $378 million) in the first nine months of this year due to a very challenging environment as a result of the coronavirus pandemic.
Nigeria’s biggest communications provider, MTN Nigeria’s earnings before interest, taxes, depreciation and amortization for the period grew by 9.1% to N497.9bn ($1.3bn) supported by service revenue growth. The company added 3.9 million subscribers, bringing its total to 75 million in that period.
MTN Nigeria said it will build on momentum from the third quarter in the final quarter of the year to expand its 4G coverage and broaden rural connectivity, which will help to boost subscriber numbers and support growth in voice and data revenue.
Lillian Jijingi
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