MTN Nigeria Communications Plc has released its Q3 2024 unaudited results, reporting a profit after tax of N4.13 billion.

The company’s service revenue grew 35.4% year-on-year. Voice revenue increased 16.9% year-on-year.

Data revenue surged 48.3% year-on-year. Digital revenue jumped 109.9% year-on-year.

Fintech revenue rose 32.3% year-on-year.

Operating expenses grew 76.4% year-on-year.

EBITDA margin contracted 10.19 percentage points to 37.6%.

Net finance costs increased 73.1% year-on-year. Profit before tax declined 65.6% year-on-year to NGN37.66 billion. Analysts expect sustained earnings recovery in Q4.