Kayode Tokede

MTN Nigeria Communications Plc (MTNN) market capitalisation increased to the N10.8 trillion mark as of close of trading activities last week to become the third most capitalisation stock on the Nigerian Exchange Limited (NGX).

The stock price of MTN Nigeria currently at N515 per share as of October 24, 2025 also makes it a 52-high so far this year amid renewed interest by investors over its resurgence from loss to profitability in first quarter 2025 and half year ended June 2025 result and accounts.

The telecommunication company has seen its stock price gain 157.5per cent or N315 per share in its Year-till-Date (YtD) performance   when compared to N200 per share it closed for trading 2024. 

Further findings showed that MTN Nigeria   stock price reached   a 52-low of N169 per share this year.

MTN Nigeria reported a net income of N414.9 billion for H1 2025. This marks a 180 per cent year-on-year growth from the N519.1 billion net loss reported in H1 2024.

In its consolidated financial statements for H1 2025, the group recorded a turnover of N2.38 trillion during the period. This represents a 54 per cent YoY growth from the N1.54 trillion reported in H1 2024.

This growth was observed across various revenue streams, including voice, data, and value-added services. Data revenue particularly saw a significant increase from N726.6 billion in H1 2024 to N1.23 trillion in H1 2025.

The H1 2025 results mark a significant financial turnaround for the six months ended 30 June 2025. With the profits driven by strong revenue growth and a drastic reduction in net foreign exchange losses. Outside the reduction in FX losses, MTN’s operating profit surged by 193 percent YoY to N892.8 billion, from N304.5 billion in H1 2024.

This caused the company’s pre-tax to surge to N622.3 billion in H1 2025, compared to a loss of N751.3 billion in H1 2024, marking an impressive 183 per cent change.

MTN’s earnings per share also reflected this positive shift, recording N19.78 per share for H1 2025, in stark contrast to a loss of N24.71 per share in H1 2024.

MTN has been one of the biggest gainers in the forex reforms in the country. The financial statement revealed that a critical factor in the telco giant’s turnaround was the substantial reduction in net foreign exchange loss. Its FX losses decreased significantly from N887.7 billion in H1 2024 to N5.2 billion in H1 2025. The moderation of currency impacts played a vital role in restoring profitability.

Although the group’s net assets are still in the negative territory, it has significantly improved.