MTN Nigeria Communications Plc, one of the leading telecommunication companies in Nigeria, has announced its unaudited financial statements for the three months ended 31 March 2023.
The financial highlights reveal impressive figures, with a 20.63% increase in revenue, from NGN 470.98 million in the same period of 2022 to NGN 568.14 million. The company also recorded a 15.22% increase in operating profit, from NGN 179.33 million in 2022 to NGN 206.62 million in 2023.
MTN Nigeria Communications Plc’s profit before taxation increased by 8.49%, from NGN 143.59 million in 2022 to NGN 155.78 million in 2023. The profit for the period attributable to the owners of the company also increased by 3.79%, from NGN 96.81 million to NGN 100.49 million. The basic and diluted earnings per share also increased by 3.79%, from NGN 4.76 in 2022 to NGN 4.94 in 2023.
As of 31 March 2023, the company’s total equity attributable to the owners of the company increased by 29.71%, from NGN 334.24 million to NGN 433.53 million. The net assets per share also increased by 29.71%, from NGN 16.44 to NGN 21.33.
MTN Nigeria Communications Plc’s market price per share as of the period ended increased by 12.15%, from NGN 214.00 in 2022 to NGN 240.00 in 2023. The market capitalization as of the period ended also increased by 12.15%, from NGN 4,349.76 million in 2022 to NGN 4,878.24 million in 2023.
MTN Nigeria Communications Plc has recorded significant growth in its financial performance for the three months ended 31 March 2023, as seen in the increase in revenue, operating profit, profit before taxation, and profit for the period attributable to the owners of the company. The company’s market price per share and market capitalization also witnessed significant growth.
