MTN Nigeria Communications Plc reported a 70.6% increase in profit after tax to N707.5 billion for the six months ended June 30, 2026, the company said in its H1 2026 earnings release filed with the Nigerian Exchange. The growth was driven by a 25.9% rise in service revenue to N2.993 trillion and a 39.2% increase in EBITDA to N1.7 trillion, according to the filing.
Operating profit increased to N1.266 trillion from N892.823 billion in the same period last year, reflecting improved operational efficiency. The EBITDA margin expanded by 5.3 percentage points to 55.9%, according to the official filing titled *H1 2026 Earnings Release / Corporate Actions*.
MTN Nigeria’s earnings before interest, tax, depreciation and amortization (EBITDA) rose 39.2% year on year to N1.7 trillion in the first half of 2026, the company said in its earnings release filed with the Nigerian Exchange (NGX) on July 30.
The company’s profit before tax (PBT) surged 75.4% to N1.09 trillion, supported in part by a foreign exchange gain of N36.36 billion in H1 2026 compared to a N5.23 billion loss in H1 2025, media reports cited from the filing showed. This turnaround in foreign exchange position helped strengthen the bottom line, sources confirmed. Profit for the period stood at N707.541 billion, up 70.6% from N414.856 billion in the prior year, with earnings per share rising to N33.76 from N19.80.
MTN Nigeria attributed the strong financial performance to sustained commercial momentum, robust cash generation, and improved profitability, CEO Karl Toriola said in an interview with ITWeb Africa. The company added 4.9 million net subscribers in the first half of 2026, bringing the total subscriber base to 92.2 million. Active data users increased by 2.5 million to 55.7 million, according to the NGX filing. Data revenue was identified as the largest revenue line, driven by growing demand and ongoing 5G network rollout, media outlets reported.
Total service revenue climbed 25.9% year on year to N2.993 trillion, reflecting increased customer usage and better operating efficiency. The company’s balance sheet also strengthened, with shareholders’ equity rising 69.6% to N930.6 billion. The board approved an interim dividend of N26 per share, payable on September 7, 2026, to shareholders on the register as of August 20, 2026, the filing noted.
The half-year results, released on July 30, 2026, were widely covered by Nigerian business media including *The Guardian* and *TechNext24*, which highlighted the company’s improved profitability and strong revenue growth. The NGX filing remains the authoritative source for the detailed financial metrics. MTN Nigeria’s performance in the first half of 2026 reflects ongoing investments in network infrastructure and expanding customer base amid a competitive telecommunications market in Nigeria.
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