MTN Nigeria turned in a materially weaker net profit for the nine months to September as a steady decline in the value of the naira left its earnings hostage to foreign exchange loss, which surged to N232.8 billion for the company from N27.9 billion a year ago.
The local subsidiary of Africa’s biggest mobile network operator surpassed turnover for the corresponding period of last year by more than two-fifths as a big bulge in data revenue helped drive the top line to N1.8 trillion according to its earnings report published on Monday.
MTN Nigeria signed on 3.6 million new active data users to its network within the period, pushing its total active users 13.3 per cent to 43.1 million, while its mobile subscribers were also 4.8 per cent up at 77.6 million.
