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MTN Group Ltd, Africa’s largest mobile operator, has released its financial result for the period ended September 30, 2018. The group reported a 10 percent year-on-year (y/y) increase in sales and added 2.5 million subscribers to reach 225.4 million users during this period.

MTN grew its revenue and recorded strong performances despite its ongoing regulatory spat in Nigeria, its biggest market. According to Reuters, the telecom firm makes about a third of its annual core profit in Nigeria.

According to the financial report, which was released on Monday, MTN Nigeria increased its service revenue by 17.4 percent. This growth was led by a 52.5 percent increase in data revenue and 21.5 percent increase in outgoing voice revenue. On a quarter-on-quarter basis, the company reported 15.1 percent growth (or 17.2 million) in active data subscribers.

MTN Nigeria’s earnings before interest, tax, depreciation and amortization (EBITDA) margin expanded to 43.2 percent in the first nine months of the year, up 4.7 percentage points from September 2017. This expansion is driven by strong growth in revenue and further cost optimisation efforts.

In August, the Central Bank of Nigeria (CBN) ordered MTN Nigeria to return the sum of $8.1 billion it allegedly transferred abroad in breach of foreign exchange regulations. MTN has denied any wrongdoing, and filed a court case against the CBN. A court hearing between the CBN and MTN on the $8.1 billion repatriation case is scheduled for today.

“On Tuesday (today), we are likely to have an adjourned date because more information will likely be requested,” said Robert Shuter, Group President and CEO of MTN. “However, it is important to create an environment to look for continued solutions.”

He added that MTN’s debut stock market listing in Nigeria may be postposed to early 2019 because the telecoms company needs to work on the format for the share sale.