MTN Group’s largest subsidiary, MTN Nigeria, reported on Wednesday a sharp increase in the number of subscribers in the third quarter, an increase of 3.9 million from the second quarter to 75 million, while active data subscribers increased. at 1.7 million to 30.7 million.
The emerging markets telecommunications group disclosed the figures in the results of its Nigerian operation for the nine months to September 30, 2020.
Cumulative net adds totaled 10.7 million in the nine-month period, marking the first time it has surpassed 10 million additions on an annual cycle with one quarter remaining.
Despite subscriber growth, MTN Nigeria’s operating margins came under pressure from rising costs that impacted its margins and reduced profitability, said outgoing CEO Ferdi Moolman. There was also volatility in voice and data revenues that affected overall service revenues.
“Following a decrease in voice and an acceleration in data during crashes in the second quarter, we have seen a normalization of traffic as restrictions were removed, with a recovery in voice traffic and continued growth in data. . This has supported a 13.9% growth in service revenue, with growth accelerating to 16.5% in the third quarter specifically, ”Moolman said.
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