MTN reports N546 billion, up 169% in Q1 2026

MTN Nigeria has released its unaudited financial results for the Q1 ended March 31, 2026, reporting a pre-tax profit of N546.421 billion, up 169.64% YoY. The Q1 2026 profit is the 2nd best quarterly profit since 2019; 4% lower than the Q4 2025 pre-tax profit of N569.588 billion. The profit growth was driven by an […]

MTN Nigeria has released its unaudited financial results for the Q1 ended March 31, 2026, reporting a pre-tax profit of N546.421 billion, up 169.64% YoY.

The Q1 2026 profit is the 2nd best quarterly profit since 2019; 4% lower than the Q4 2025 pre-tax profit of N569.588 billion.

The profit growth was driven by an impressive revenue growth, which surged by 42% YoY to N1,498 trillion, the highest quarterly revenue since 2019

Earnings per share increased by 166% to N16.95, which is nearly 30% of the 2025 full-year earnings per share.

The revenue hit N1.498 trillion, +41.62% YoY Direct networking operating cost: N317.893 billion, -5.77% YoY.

It recorded profit after tax of N355.501 billion; +165.93% YoY, while the total assets stand at  N5.849 trillion, +8.25%

MTN Nigeria believes that cost discipline buoyed the Q1 2026 performance.  Commenting on the results, CEO Karl Toriola stated:

“Despite a challenging cost environment, strong operational discipline kept operating expenses (opex) well contained, delivering meaningful operating leverage. EBITDA increased by 68.1%, and EBITDA margin expanded by 8.7 percentage points to 55.3%, in line with our medium-term guidance of a mid-to-high 50% margin range. As a result, PBT rose by 169.6% to N546.4 billion.” 

The communication giant posted revenue of N1.49 trillion, the highest since 2019. 

Data revenue increased by 56. 2%, supported by a 9.5% increase in active data subscribers, a 5.5pp rise in smartphone penetration to 66.2% and higher customer usage.

Data traffic grew by 22.9%, while average usage per subscriber rose by 12.3% to 14.3GB, highlighting the continued demand.

Voice revenue grew by 22.5%, supported by subscriber growth and targeted customer value management initiatives.

Digital revenue increased by 12.1%, driven by mobile advertising and rich media services.