By Adria Calatayud
MTN Nigeria Communications Ltd. said Sunday that net profit for the fourth quarter of 2020 rose on the back of higher revenue and mobile subscribers, but said the operating environment remains challenging due to the coronavirus pandemic.
Net profit for the quarter was 60.97 billion Nigerian naira ($159.3 million) compared with NGN54.06 billion for the same period a year earlier.
Fourth-quarter revenue was NGN370.63 billion, up 18% on year.
MTN Nigeria’s earnings before interest, taxes, depreciation and amortization for the quarter grew 11% to NGN187.88 billion.
The company said it added 12.2 million mobile subscribers during the year to reach 76.5 million, while data subscriber numbers were up 29% on year at 32.6 million.
Write to Adria Calatayud at firstname.lastname@example.org
(END) Dow Jones Newswires
March 01, 2021 04:11 ET (09:11 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Read More: MTN Nigeria 4Q Net Profit, Revenue Rise