MTN Nigeria and Airtel Nigeria made N974.4 billion from Voice, Data, and Other services between January and June 2021. This is an increase of about N196 billion from the N778.4 billion they recorded within the same period in 2020.
This was confirmed from the half-year financials of the two biggest Telecommunications outfits in Nigeria.
Research by naijabusiness.com.ng revealed that while Airtel made N183.12 billion from Voice, Data, and Others, MTN made N791.26 billion from the same services between January and June 2021.
Highlights of financials
The telecommunication giants repositioned itself during the period under review and raised substantial amount in the Nigerian capital markets. In May 2021, it raised Nigeria’s first Teleco and 2021 largest corporate bond worth N110 billion, as reported by naijabusiness.com.ng
The expansion is also sequel to an impressive financial result recorded by the telecommunications giant in the first quarter of the year (Q1, 2021). For the first half of the year 2021, MTN recorded the following;
- It made N487.7 billion as Voice revenue against N431.2 billion made in the same period in 2020.
- It recorded N228.5 billion from Data as revenue, up from N154.1 billion recorded in 2020.
- It recorded N7.9 billion from digital services, up from N4.9 billion recorded in 2020
- Others: N34.6 billion against the N25.5 billion recorded in 2020.
- MTN also made N31.64 billion from Fintech activities against N21.35 billion realized 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 the half year period (HY,2021).
- Voice revenue: N97.94 billion against N140.3 billion realized in HY 2020.
- Data revenue: N70.4 billion against N50.2 billion realized in HY 2020.
- Other revenue: N14.8 billion between January and June 2021, up from N9.05 billion in HY 2020.
- The telco giants in its half year 2021 financials noted that growth was recorded across all regions: Nigeria up 38.2%, East Africa up 32.8%, and Francophone Africa up 24.9%; and across key services, with revenues for Voice up 26.0%, Data up 37.4%, and Mobile money up 53.7%.
Recall that recently, naijabusiness.com.ng reported that MTN, Airtel and 2 other telecommunications company in Nigeria lost over 4.7 million internet subscribers in four months.