MTN Nigeria recorded a 73.2% increase in revenue from Internet subscription in the last one year.
According to a press statement, the telecommunications company (telco) also has 14.4% Year on Year (YoY) revenue growth for the period ended March 31, 2018.
Voice revenue only recorded 15.2% YoY growth. This is really low when compared with the growth of revenue from data. But it’s only the full financial result, which will be released on May 7, 2018, that can state the significance of the value of data revenue over that of voice.
Of the top biggest markets of the MTN Group, the Nigerian unit is at the second spot in terms of service revenue growth rate with a 14.4%, while MTN Irancell and South Africa recorded 15,2% and 2.5% respectively.
There’s a 4.3% quarter-on-quarter growth on the number of subscribers for Q1 2014 to hit 54.5 million, and the company still maintains its leadership position in Nigeria with respect to subscriptions.
MTN Nigeria contributed 2.3 million new subscribers of the total 4.1 million recorded by the group for the quarter. And Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) margin expanded to 41.8%.
Surely, this has the potential of putting MTN Nigeria in a good light considering that the company is currently making arrangements to get listed on the Nigerian Stock Exchange.
Worthy of note is that MTN Ghana is expected to launch its IPO later this month.
NEW REPORT: Nigerian startups raised $17.6m in Q1 2019, 8.5% higher than they did in Q1 2018. Find out more in the latest quarterly edition of the Nigerian Startup Funding Report here.
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