MTN Nigeria has released its financial statements for the period ended December 31, 2021, in which it recorded total revenue of N1.654 trillion.
The revenue recorded during the period under review soared by 22.9% when compared to the N1.346 trillion the telco recorded in 2020.
More so, the scorecard released to investors at the Nigerian Exchange Limited (NGX) shows that MTN’s service revenue was up by 23.3% to N1.651trillion from N1.339 trillion in 2020.
Voice revenue grew by 8.4% to N971.4 billion from N896 billion in 2020, while Data revenue was up 55.3% to N516.1 billion from N332.4 billion in 2020.
Digital revenue went up by 61.2% to N18 billion from N11.2 billion in 2020. Fintech revenue grew by 57.3% to N70.6 billion from N44.8 billion in 2020.
The results show a profit after tax (PAT) rose by 45.5% to N298.7 billion from N205.2 billion in 2020, while earnings per share increased by 35.8% to N14.7 from N10.8 in 2020.
Speaking on the company’s financial performance, Ernest Ndukwe, Chairman, MTN Nigeria, stated: “I am pleased to report that your Company recorded improved performance across all key financial metrics in 2021, demonstrating the strength and resilience of our business.
“Enhancing the shared value that we deliver across our ecosystem is a critical pillar of Ambition 2025 and sits at the heart of our approach to doing business,” said Karl Toriola, Chief Executive Officer, MTN Nigeria.
‘I am truly excited about what the future holds and the role that our Company can play in helping to achieve it.”
Meanwhile, MTN Nigeria is poised to pay dividends amounting to N174.438 billion. Although this is subject to its shareholders’ and stakeholders’ approvals.
If approved, the dividends will be paid on Thursday, April 28, 2022, at the rate of N8.57 per every 2 Kobo ordinary share (subject to appropriate deduction of withholding tax); to shareholders whose names appear in the Company’s Register of Members at the close of business on Wednesday, April 6.
