MTN Ghana raises quarterly profit by 42.6%
By the AFREEQUE newsroom, based on Business Day (South Africa)
MTN Ghana recorded a 42.6% rise in profit after tax in the third quarter, to 2.62 billion cedis, while revenue increased by 35.7% to 8.2 billion cedis. Growth spanned connectivity and digital financial services, according to results published by MTN Ghana.
MTN Ghana increased its third-quarter profit after tax by 42.6% to 2.62 billion cedis, while quarterly revenue rose by 35.7% to 8.2 billion cedis, Business Day reports.
Growth was recorded across several of the telecoms operator’s activities: data revenue rose by 39.9%, voice revenue by 27.1% and digital revenue by 98.1%. Mobile Money revenue increased by 26.5% year on year.
The number of mobile subscribers grew by 12.7% to 34.3 million. MTN Ghana also had 22 million active data users and 18.9 million active Mobile Money users. During the quarter, the company added about 1.5 million mobile subscribers, 700,000 data users and 600,000 Mobile Money users.
In the first nine months of the year, profit after tax increased by 43% to 7.75 billion cedis, and service revenue rose by 33.5% to 23.15 billion. The group attributed its performance in part to sustained demand for data and digital services, as well as a more favourable economic environment than the previous year. Ghana’s Tema refinery has also returned to profit, according to an earlier review of its results published on 26 October.
