MTN Nigeria Communications Plc reported a 59.4 percent rise in pre-tax profit to N1.80 trillion for the nine months ended September 30, 2026, up from N1.13 trillion a year earlier, driven by stronger data revenue, subscriber growth and improved margins.
Revenue increased by 23.6 percent to N4.61 trillion from N3.73 trillion, according to the company’s unaudited financial statements released on October 30.
Operating profit rose 38.2 percent to N1.99 trillion, while profit after tax climbed 55.3 percent to N1.17 trillion. Earnings per share improved to N55.60 from N35.80.
Chief Executive Officer Karl Toriola said the company delivered a strong third quarter after a temporary slowdown in the previous period.
“We delivered a very strong third quarter, reversing the temporary slowdown in Q2,” Toriola said.
He added: “Growth is increasingly volume-led, driven by more users, deeper data adoption, higher usage and rising demand for home broadband, supported by continued investment in network coverage, capacity and quality.”
Data revenue, the largest contributor, rose 35.8 percent to N2.68 trillion and accounted for 58.5 percent of service revenue. The mobile subscriber base grew 10.9 percent to 94.7 million, while active data users increased 12 percent to 57.2 million.
EBITDA rose 36.8 percent to N2.62 trillion, with the margin expanding to 56.9 percent from 51.4 percent. Net finance costs fell 25.3 percent to N277 billion.
Management reaffirmed its medium-term guidance of service revenue growth averaging at least the low-20 percent range and EBITDA margins in the mid-to-high-50 percent range.
MTN Nigeria’s shares closed 3.03 percent higher at N850 on the Nigerian Exchange on Friday.
