MTN Nigeria Communications Plc has reported a strong financial performance for the first half of 2026, with profit after tax rising by 70.5 per cent to ₦707.54 billion from ₦414.86 billion recorded in the corresponding period of 2025.
The telecommunications company also posted a 25.9 per cent increase in revenue to ₦2.99 trillion, marking its highest-ever six-month revenue and reflecting a significant recovery from the foreign exchange challenges and cost pressures that affected the industry in recent years.
Profit before tax climbed 75.4 per cent to ₦1.09 trillion, while operating profit rose 41.8 per cent to ₦1.27 trillion. The improved performance was driven by stronger revenue growth, higher finance income and a reversal from a foreign exchange loss of ₦5.23 billion in H1 2025 to a foreign exchange gain of ₦36.36 billion during the period.
Despite rising operating costs, including higher employee expenses, depreciation and network-related investments, MTN maintained strong profitability. The company generated ₦1.53 trillion in operating cash flow and invested ₦763.85 billion in property, plant and equipment to expand its network infrastructure and meet growing demand for data and digital services.
MTN also reduced its borrowings during the period, while total assets grew from ₦5.40 trillion at the end of 2025 to ₦5.97 trillion by June 2026. Shareholders’ equity also increased significantly to ₦930.61 billion, supported by higher retained earnings despite dividend payments of ₦314.59 billion.
The company’s improved earnings were reflected in its market performance, with its share price rising by about 68 per cent between December 2025 and July 2026, highlighting growing investor confidence in its recovery and long-term growth prospects.
