South Africa’s MTN Group reports 33% rise in Q1 core profit

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South Africa’s MTN Group reports 33% rise in Q1 core profit

9:18 CAT | 12 May 2025

FILE - A person walks past a MTN logo outside the company's headquarters in Johannesburg, South Africa, November 17, 2023. [File photo: Reuters/Siphiwe Sibeko]

South Africa’s MTN Group, on Monday, reported a 33% jump in first-quarter core profit due to strong service revenue growth, lower device cost of sales in its domestic market and a more stable macroeconomic environment.

Group earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 33% on a constant-currency basis in the first quarter ended March 31, and reflects a 5.3 percentage point increase in margin to 44.1%, MTN said, without giving the value of EBITDA.

Group service revenue increased 10.4% overall in the quarter, or by 19.8% in constant currency. That was buoyed by 40.4% growth in MTN Nigeria and 39.5% in MTN Ghana.

MTN South Africa continued to navigate competitive challenges, most notably in the prepaid segment, with service revenue up by 2.6%.

Source: Reuters