MTN Nigeria, the country's largest telecom operator led by leading business executive Karl Toriola, has reported a 32.8 percent increase in revenue to $927.07 million for the six months ending June 30, 2024.
However, the naira's depreciation significantly eroded profitability due to foreign exchange losses.
Data, voice boost revenue growthIn its latest financial report , MTN Nigeria saw its revenue increase from N1.16 trillion ($697.79 million) to N2.47 trillion ($927.07 million) for the six months ended June 30, 2024.
The company's revenue growth was driven by increased data consumption, voice traffic expansion, and fintech services growth across its business units.
