MTN Nigeria Plc reports 22.3% increase in pre-tax profits for full year 2022

MTN Nigeria Plc has released its audited full-year 2022 financial results, reporting a pre-tax profit of N533.972 billion.

This represents a 22.3% increase from the N436.689 billion the company reported during the same period in 2021.

Revenue   

2022 FY: N2.201 trillion

2021 FY: N1.654 trillion

Change: +21.6%

Operating  profit  

2022 FY: N733.298 billion

2021 FY: N584.747 billion

Change: +19.13%

Finance costs 

2022 FY:  N213.094 billion

2021 FY: N159.998 billion

Change: +33.18%

Pre-tax profit 

2022 FY: N533.972 billion

2021 FY: N436.689 billion

Change: +22.3%

Net Profit after tax

2022 FY: N358.877 billion

2021 FY: N298.654 billion

Change: +20.16%

Earnings per share

2022 FY: N17.79

2021 FY: N14.67

Change: +21.41%

Bottomline

The growth in pre-tax profits was due to the increase in revenue boosted by voice and data revenue and earnings from interconnect, roaming and SMS.