MTN Nigeria Plc reported a foreign exchange (FX) net loss of ₦5.23 billion for the first half of 2025, a significant reduction from the ₦887.68 billion recorded during the same period in 2024.

The figures were disclosed in the company’s audited financial statements for the six-month period ended June 30, 2025, filed with the Nigerian Exchange Limited on Thursday.

According to the report, the FX loss comprised ₦95.25 billion in realised losses and ₦90.02 billion in unrealised gains. Realised FX losses stem from completed foreign currency transactions, while unrealised gains reflect potential changes in value from unsettled transactions.

MTN also reported a profit after tax (PAT) of ₦414.85 billion in the first half of 2025, compared to a loss after tax of ₦519.1 billion in the same period in 2024.

The company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) rose by 119.5 percent to ₦1.2 trillion, with the EBITDA margin climbing to 35.6 percent.

Revenue grew by 54.6 percent to ₦2.4 trillion from ₦1.53 trillion recorded in the first half of 2024. Voice services generated ₦887.13 billion, while data revenue stood at ₦1.23 trillion — reflecting growth rates of 40.3 percent and 69.2 percent, respectively.

MTN attributed the improved performance to better macroeconomic conditions in Nigeria, including relative stability of the naira, improved FX liquidity, and declining inflationary pressures.

“The Central Bank of Nigeria (CBN) maintained the Monetary Policy Rate (MPR) at 27.5% to anchor inflation expectations, contributing to a moderation in the headline inflation to 22.2% in June 2025,” the company said.

It added that the naira remained largely stable during the reporting period, closing at ₦1,530 to the dollar, compared to ₦1,535 in December 2024. These developments, MTN said, created a more favourable environment for its operations and long-term investments.