Lagos, Oct. 31, 2024 – MTN Nigeria reported an after tax loss of N514.9 billion loss in its operation in the first nine months of 2024.
This was reported in the company’s unaudited results for the nine months ended Sept 30, 2024 released on Thursday.
The company has also reported a N15.0 billion after tax loss in the same period las year.
It attributed the loss to the steady depreciation of the naira which had increased its foreign currency-denominated obligations.
The loss impacted negatively on the company’s earnings and shareholders’ fund.
Karl Toriola, its Chief Executive, said the company’s profit after tax (PAT) would have been N118.5 billion if not for the foreign exchange loss.
