MTN Posts N975.76bn Revenue for Third Quarter OF 2020
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| The leading telecommunications company in Nigeria, MTN Nigeria Plc, has recorded total revenue of N975.76 billion for the third quarter, Q3 2020. Thus, MTN performance moved up from N856.549 billion recorded in the corresponding period in 2019. Effectively, the telecom giant recorded a 13.9% growth in its total revenue for the Q3 2020, as it recorded total revenue of N975.76 billion this year, up from N856.549 billion recorded in the corresponding period last year. These much were revealed in the company’s updated financials available on the Nigerian Stock Exchange, NSE, Market.  From its financial report, it also revealed the Operating profit rose by 7.8% from the N284.73 billion recorded in the third quarter of, Q3 2019, to N307.01 billion in Q3 2020. Increase in the operating profit was largely impacted by the rise in the cost of finance as a result of increased borrowings. The financials revealed that in September 2019, the operating cost was, N381 billion. In September 2020, it was N509 billion, leading to a decline of 0.6% in profit before tax to N211.6 billion. |
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