MTN Nigeria Communications Plc published its unaudited results for the first quarter ended March 31, 2025, reporting a remarkable turnaround with earnings per share of N6.38, compared to a loss per share of N18.63 in first quarter of 2024.

The recovery in earnings was driven by a 40.5% year on year increase in revenue and a substantial 99.2% year on year decline in net foreign exchange losses.

Telecommunications industry watchers anticipate MTN Nigeria momentum to persist, particularly with the full impact of the new tariff structure expected to materialize in second quarter of 2025.

While they are confident in a complete recovery, a return to profitability, and a restoration of a positive equity balance.

Highlights of the revenue growth, shows that service revenue increased by 40.5% year on year to N1.05 trillion, reflecting notable growth across all key segments, including data, voice, digital, fintech, and other service revenue.

The data segment remained the primary growth driver, benefiting from an expanding user base, increased data consumption, and price adjustments.

Data traffic rose by 46.4% year on year, with average monthly usage per subscriber increasing by 29.5% year on year to 12.8GB.

Total expenses increased by 23.9% year on year, lagging revenue growth due to cost-saving measures, including the renegotiated IHS tower lease agreement.

The  telecommunications company reported a pre-tax profit of N202.65 billion, compared to a pre-tax loss of N575.69 billion in that was recorded in 2024.

Profit after tax stood at N133.68 billion, a recovery from the loss after tax of N392.69 billion in 2024.