Lagos, April 30, 2024 – MTN Nigeria’s subscribers base has risen to 77.7 million as at March 31, 2024.
The figure represents a growth of 1.3 percent over the 76.7 million recorded in the corresponding period in 2023.
The company disclosed this in its unaudited financial statement submitted to the Nigerian Exchange Ltd. (NGX) in Lagos.
Karl Toriola, its Chief Executive said the adoption of NIN-SIM directive had an adverse effect on the growth of its subscriber base as the company lost two million of its subscribers.
“Active Mobile Money (MoMo PSB) wallets of the service provider increased by 48.7 percent to 4.8 million in the first quarter of 2024, from 3.2 million recorded in the first quarter of 2023.
“Total revenue also increased by 32.5 per cent to N752.98 billion in the period under review, as against N568.13 billion posted in the corresponding period of 2023.”
Toriola said the company’s Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) decreased by 1.9 percent to N297 billion as of March 31, 2024.
The company recorded a net loss of N392.69 billion in the quarter under review, a 462.2 percent decline when compared to N108.43 billion posted in the same quarter of 2023. (GBN)
