MTN Rwanda profit falls as zero mobile termination rates bite
CEO Mapula Bodibe says the company’s commercial and operational momentum helped to deliver a relatively resilient financial performance
08 May 2024 - 10:02
MTN Rwanda’s profit after tax fell 61.5% in the first quarter due to the depreciation of the group’s right-of-use (RoU) assets and pressures on earnings before interest, taxes, depreciation and amortisation (ebitda).
The company said the 2023 financials were restated to reflect the accurate computation of the lease accounting under IFRS16, which affected the depreciation and finance costs. Profit after tax for the first quarter of 2023 was restated from 2.8-billion Rwandan francs to 1.9-billion Rwandan francs, with profit coming in at 749-million Rwandan francs for the quarter to end-March...
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