MTN Nigeria Q1 2026 Results: Profit Jumps 165.9%
MTN Nigeria Communications Plc filed its unaudited financial results for the first quarter ended 31 March 2026 on 29 April 2026. The filing contains revenue, profitability, subscriber, and cash flow figures for Q1 2026 compared against Q1 2025 and Q4 2025.
MTN Nigeria released its unaudited Q1 2026 results, reporting service revenue of ₦1.489 trillion, a 41.8% year-on-year increase. Total revenue reached ₦1.498 trillion, up 41.6% from ₦1.058 trillion in Q1 2025. EBITDA rose 68.1% to ₦828.3 billion, with the EBITDA margin expanding by 8.7 percentage points to 55.3%. Profit after tax grew 165.9% to ₦355.5 billion, while earnings per share rose 166.1% to ₦16.95.
Data revenue was the leading revenue segment, climbing 56.2% year-on-year to ₦827.2 billion. Fintech revenue grew 77.9% to ₦64.2 billion. Voice revenue increased 22.5% to ₦499.1 billion. Total subscribers reached 89.5 million, up 6.5%, while active data users grew 9.5% to 55.0 million. MoMo wallets stood at 3.3 million, up 54.6% year-on-year.
Capital expenditure excluding right-of-use assets rose 92.8% to ₦390.3 billion. Free cash flow increased 55.6% to ₦326.5 billion. Net finance costs declined 38.7% year-on-year to ₦85.9 billion. The naira closed the quarter at ₦1,387 per US dollar, compared to ₦1,436 per US dollar at end of December 2025.
