MTN Nigeria Communications Plc has posted a profit after tax of N1.17tn for the nine months ended September 30, 2026, representing a 55.3 per cent increase over the N750.2bn recorded in the same period last year.
The telecommunications operator attributed the strong performance to increased revenue, improved operating margins and sustained growth in demand for data and broadband services.
The figures were contained in the company's unaudited financial statements released on Friday, which showed that service revenue grew by 23.7 per cent to N4.6tn.
Similarly, earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 36.8 per cent to N2.6tn, reflecting improved operational performance.
The company's earnings per share increased by 55.3 per cent to N55.60, while free cash flow climbed by 57.5 per cent to N1.17tn.
MTN's customer base also expanded during the period, with total subscribers reaching 94.7 million, including 57.2 million active data users.
The growing number of data subscribers underscores the increasing contribution of digital connectivity to the company's business as more Nigerians rely on internet services for commercial, educational and personal activities.
MTN Nigeria Chief Executive Officer, Karl Toriola, said the performance reflected the growing importance of reliable connectivity and the company's commitment to expanding its network infrastructure.
He explained that the increasing dependence of individuals and businesses on telecommunications services had made sustained investment in network capacity necessary.
To strengthen its infrastructure, the company committed N864.8bn to capital expenditure, excluding leases, between January and September 2026. The amount represented a 14.2 per cent increase compared with the corresponding period.
Toriola said the investment was aimed at expanding network coverage and capacity, while improving the quality of services delivered to subscribers.
He also identified fibre-to-the-home broadband expansion as a major component of the company's infrastructure strategy, particularly as demand for household internet services continues to rise.
According to him, MTN has established a leading position in the fibre-to-the-home market, with the service now accounting for about 13 per cent of its overall data traffic.
He noted that the company's unlimited fibre broadband packages were enabling households to enjoy greater flexibility in working, learning and accessing entertainment online.
The expansion, he added, was also helping to ease traffic pressure on the mobile network by providing an alternative channel for data consumption.
However, Toriola acknowledged that infrastructure challenges, particularly fibre-optic cable cuts and other disruptions, remained a concern for the operator.
He said MTN would continue to channel resources into improving network resilience and addressing service delivery challenges to enhance customer experience.
The strong financial performance also enabled the company to maintain substantial shareholder distributions alongside its infrastructure investments.
MTN Nigeria's Chief Financial Officer, Modupe Kadri, disclosed that the company paid approximately N861bn in dividends during the nine-month period.
He said the dividend payments were made while the operator continued to fund significant capital expenditure and strengthen its financial position.
Kadri further stated that the company maintained a positive net cash position despite the competing demands of infrastructure investment and shareholder returns.
He stressed that sustained business growth required more than impressive earnings, pointing to financial discipline, customer trust and long-term investment as essential elements of value creation.
The results highlight the growing influence of data and broadband services on MTN Nigeria's earnings, as the company continues to expand its infrastructure to accommodate increasing demand for digital connectivity.
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