jmoore:


Una go open mouth waaa! Do you know how much MTN pays as tax to government from the profit they made? If they are making a loss, how much do you think they will pay as tax?

Loss = no tax

30% of profit is paid as company income tax for big companies like MTN.

Thanx for educating the dumb dude

Imagine making it seem as if the profits they made previously must fell on them from the sky and they never worked for it.
A company loses 500bn due to no fault of theirs and his response is to mock them. If they decide to kick their wound by sacking staff, folks like him will still come out to call them names.

There should be forensic audit of their records ,how can they be selling air and record losses ,it can't be possible

Charly68:
There should be forensic audit of their records ,how can they be selling air and record losses ,it can't be possible

Lol, you are just displaying your ignorance here

Cost of doing business is very high in Nigeria. Many of their offices run on diesel powered generators and some are gradually installing solar panels all over their mast just to survive. Govt cannot just provide the basic infrastructure for business. It's sickening 😞

MTN and DSTV are now on boundary to exit Nigeria

OPICANTO2223:
Blame the frog eye Bobo Chicago

Tinubu really dealt with Nigeria.

What a staggering loss. It will take years for private company to recover.

It's only banks that are making these gains while other businesses suffered loss.

Thanks to tinubu renewed illegal hope.

Noghayin03:
Cost of doing business is very high in Nigeria. Many of their offices run on diesel powered generators and some are gradually installing solar panels all over their mast just to survive. Govt cannot just provide the basic infrastructure for business. It's sickening 😞

The loss is duely from exchange rate variation. Not business loss. Business actually made a lot of sales and proceed but the exchange rate loss override everything.

FreeStuffsNG:
Revenue increased very significantly which proves that their business is still booming in Nigeria. This is forex devaluation challenges because most of the inputs are imported.

They should look at possibility of import substitution and govt can please give them some incentives on such import substitution.

There is now stability in the forex market so MTN should feel reduced pressure from forex volatility in subsequent quarters.

May God bless Nigeria for ever! Check my signature for free stuffs!

They will source their inputs from iragbiji according to you and balablu the cocaine sniffer will give them tax holidays in subsequent quarters....

Odidigboigbo:
I hope you employed the staff that will be layed off if they returned? Do you ever consider the impact on the economy if they returned to their country?

DONT MIND THE F.....L THAT'S THE WAY THEY THINK JUST LIKE A FACTORY SETTINGS, THEY DONT THINK OR REASON ON THEIR OWN. I HAVE ALMOST 5 OF MY CLICKS WORKING WITH MTN TAKING CARE OF THEIR FAMILIES NEED AND THAT OF THEIR LOVED ONES.

THE AGBADORIANS WONT THINK BEFORE TALK, IF THE COMPANY MTN SHOULD WIND UP, WHAT DO YOU THINK WILL HAPPEN TO THESE TENS OF THOUSAND NIGERIAN WORKING FOR THEM, THEY DONT ALSO THINK THAT THE NATION WILL ALSO LOSS FROM TAX INCOME. NOT KNOWING THAT THE TAX WHICH THE GOVERNMENT RAKES FROM MTN ALONE IN ONE MONTH CAN TAKE CARE OF THE OP'S COMMUNITY PEOPLE FOR A WHOKE YEAR.

MTN is actually chasing 1trn quarterly revenue, interesting. Such a shame FX is decimating any progress they make

No dividend for us this quarter, problem dey ooooooh

...what a myopic response. It shows you are truky not financially inclined. Karl and Modupe Kadri(CEO and CFO will not even dare to say this publicly because they know the implications) Organisations are measured by their profitability and not revenue numbers. You should know that revenue numbers are susceptible to inflationary trends. They dare not release a financial result based on CPP(financial accounting reports where inflation is accounted for) and you will see the signs of trouble in an entity that is currently projected to
continue to have losses based on the economic indices (going concern).....let them continue to increase revenue but run at a loss for the next few years and see whether they won't pack up their shops.

FreeStuffsNG:
Revenue increased very significantly which proves that their business is still booming in Nigeria. This is forex devaluation challenges because most of the inputs are imported.

They should look at possibility of import substitution and govt can please give them some incentives on such import substitution.

There is now stability in the forex market so MTN should feel reduced pressure from forex volatility in subsequent quarters.

May God bless Nigeria for ever! Check my signature for free stuffs!

Oh I like this news.
Any bad thing that happens to any south african company is okay by me how I wish dstv will incur huge losses. Nonsense

you really dont need a response but i will just try this once and just ignore you!obviously you are not smart enough to know that companies declare loss to dodge tax?its another way of cutting salary or laying off staff!when a foreign company repatriates its profits to declare loss,what is the gain of nigerians?
let them go back to their country!they are not first or last to fold up!we still have others that can do the job!good day!!

HRMK:
you really dont need a response but i will just try this once and just ignore you!obviously you are not smart enough to know that companies declare loss to dodge tax?its another way of cutting salary or laying off staff!when a foreign company repatriates its profits to declare loss,what is the gain of nigerians?
let them go back to their country!they are not first or last to fold up!we still have others that can do the job!good day!!

Are you on drugs? what rubbish statement is this?

Wow and Lol!! This is not accurate....
you can't repatriate losses....losses declared in financial statements are still subject to review by the tax authorities. You can carry forward or backward losses but if there are suspicious transactions discovered, the implications are heavy. Besides, as a public company, declaring losses to avoid taxes affect your share value heavily....the incentives are not that worth it.

HRMK:
you really dont need a response but i will just try this once and just ignore you!obviously you are not smart enough to know that companies declare loss to dodge tax?its another way of cutting salary or laying off staff!when a foreign company repatriates its profits to declare loss,what is the gain of nigerians?
let them go back to their country!they are not first or last to fold up!we still have others that can do the job!good day!!

MTN go raise fees

The struggle continues.

More analysis is required.

For such a business did it have any additional capital investments in the period

Why did it have such high impact fx losses. On what ?

Do they use a lot of expatriate employees. What are their major OPEX spend...

Businesses can make losses not only from macro economic variables but also from poor decision making. ( I believe that particular company has the highest paid top officer in Nigeria, you do the maths)

naijapikin2:
Oh I like this news.
Any bad thing that happens to any south african company is okay by me how I wish dstv will incur huge losses. Nonsense

You really forgot it's Nigerians working for them?

iswallker:


They will source their inputs from iragbiji according to you and balablu the cocaine sniffer will give them tax holidays in subsequent quarters....

When in actual fact your brothers and sisters are known for drugs trafficking worldwide! Loser!