MTN Nigeria Reports N546 Billion Profit in Q1 2026

MTN Nigeria released its unaudited financial results for Q1 2026, ending March 31, 2026, reporting a pre-tax profit of N546.42 billion, which represents a 169.64% increase year-on-year. This profit is noted as the second-best quarterly profit since 2019, although it is 4% lower than the N569.59 billion reported in Q4 2025.

Revenue surged by 42% year-on-year to N1.498 trillion, the highest quarterly revenue since 2019. Earnings per share increased by 166% to N16.95, nearing the full-year earnings per share of N30 for 2025.

CEO Karl Toriola highlighted that strong revenue growth, cost discipline, and foreign exchange gains contributed to this performance. However, operating expenses grew by 16.19% due to higher energy prices.

Total assets increased by 8.25% to N5.849 trillion, while total borrowings decreased by 25% to N315 billion. MTN Nigeria expressed confidence in sustaining its performance amid a dynamic environment, targeting an EBITDA margin in the mid-high 50% range.