Lagos, Nigeria – MTN Nigeria Communications Plc has reported a record profit before tax of N1.70 trillion (approximately $1.09 billion) for the 2025 financial year, marking a dramatic turnaround from the N550.3 billion pre-tax loss recorded in 2024.
Okay News reports that the performance reflects a return to profitability following significant foreign exchange losses in the prior year. In the fourth quarter alone, pre-tax profit rose to N569.6 billion, up 248.8 percent from N163.3 billion in the same period of 2024.
Following the impressive performance, the Board has proposed a final dividend of N15 per share, bringing the total dividend for the 2025 financial year to N20 per share.
Chief Executive Officer Karl Toriola described 2025 as a significant turning point. He noted that the company closed the year with positive retained earnings of N400.4 billion compared to negative N607.5 billion in December 2024.
Toriola attributed the recovery to improved macroeconomic conditions, including a more stable foreign exchange market and moderated inflation. The company maintained its medium-term service revenue growth target of at least the low 20 percent.
Total revenue rose 54.9 percent to N5.20 trillion, with service revenue increasing 55.1 percent to N5.17 trillion. Data revenue grew 74.5 percent to N2.78 trillion, becoming the largest contributor to total service revenue.
Voice revenue rose 42.1 percent to N1.85 trillion, while fintech revenue surged 79.7 percent to N191.3 billion. The company reported a net foreign exchange gain of N90.3 billion compared to a loss of N925.4 billion in 2024.
The balance sheet strengthened materially, with retained earnings returning to positive territory. Shareholders’ equity improved to N548.7 billion from negative N458.0 billion previously.
As of Thursday’s close, MTN Nigeria’s share price stood at N760, making it the most capitalised company on the Nigerian Exchange. The stock has gained 33 percent in February, pushing its year-to-date return to 49 percent.
This remarkable profit turnaround demonstrates the impact of exchange rate stability and operational efficiency. Sustaining this profit turnaround will depend on maintaining cost discipline in the evolving macroeconomic landscape.
 for the 2025 financial year, marking a dramatic turnaround from the N550.3 billion pre-tax loss recorded in 2024.){kind=link}