MTN Nigeria and Airtel Nigeria made N720.07 billion from Voice, Data, and Other services between January and March 2021. This is an increase of N108.7 billion from the N611.34 billion they recorded within the same period in 2020.This was confirmed from the financials of the two biggest Telecommunications outfits in Nigeria. The reports disclosed that while Airtel made N334.76 billion from Voice, Data, and Others, MTN made N385.32 billion from the same services between January and March 2021
Highlights of financials
The company has strategically positioned itself and made expansionary decisions to reach where it is – the second most capitalized stock in the NSE. MTN Nigeria’s (MTNN) Q1 2021 financials show that the company has it good.
- It made N208.62 billion as Voice revenue against N194.04 billion made in the same period in 2020.
- It recorded N105.7 billion from Data as revenue, up from N74.01 billion recorded in 2020.
- Others: N70.99 billion against the N61.12 billion recorded in 2020.
- MTN also made N10.67 billion from SMS against N3.34 billion realised from this sector in 2020
In the case of Airtel, the Telco also recorded growth in its revenues across Voice, Data, and Other revenues in Q1 2021.
- Voice revenue: N173.55 billion against N145.52 billion realised in Q1 2020.
- Data revenue: N98.7 billion against N90.3 billion realised in Q1 2020.
- Other revenue: N62.51 billion between January and March 2021, up from N46.32 billion in Q1 2020.
- In its 2020 figures, growth was recorded across all regions: Nigeria up 21.9%, East Africa up 23.5%, and Francophone Africa up 10%; and across key services, with revenues for Voice up 11.0%, Data up 31.2%, and Mobile money up 35.5%.
MTN commands the market share for internet subscriptions, owning about 42% of the market. MTN also controls 40% of the Voice market share, the highest compared to any other competitor.