MTN Nigeria Hits 52-Week High in Fresh Rally
Traded at 52-week high in the stock market, MTN Nigeria Plc.’s market value soared by about 10% in the equities market as the telecommunication company attracted investors attention.
According to data from the Nigerian Exchange, MTN Nigeria share price rose by 9.16% as 2.442 million units valued at N677.411 million exchanged hands. The telecom market value increased on the day, settling at N5.981 trillion as market reacted to its impressive earnings results in the first quarter of 2025.
Analysts highlighted that the tariff increase by the regulator and MTN Nigeria tower renegotiation deals will supported the group performance in 2025. MTNN continued its recovery from the challenges posed by naira depreciation, which weighed on its 2023 and 2024 profit performance.
The robust revenue growth reported in Q1-2025 translated into positive earnings, as cost pressures subside and FX losses were significantly reduced. In the first quarter earnings release, MTN Nigeria reported a pre-tax profit of N202.65 billion as against a pre-tax loss of N575.69 billion in Q1 2024.
After accounting for a tax expense of N68.97 billion, the company posted a profit after tax of N133.68 billion, a recovery from the loss after tax of N392.69 billion in Q1 2024. #MTN Nigeria Hits 52-Week High in Fresh Rally NGX lists Nigeria’s First Telecom Company, Legend Internet Plc
