Airtel Africa books 25% uptick in net profit

28 Jul 2022

Airtel Africa – the African division of Indian telecoms group Bharti Airtel – has reported total quarterly revenues of USD1.26 billion for its first quarter of FY2023 (the three months to end-June 2022), representing a 13.0% year-on-year increase (in reported currency). The group notes, however, that growth was slower than recent trends, due to issues affecting customers in Nigeria and the loss of tower sharing revenues in Tanzania, Madagascar and Malawi following the sale of its towers in those markets. Similarly, although the company acknowledged increases in expenses due to rising energy costs, EBITDA grew by 14.9% y-o-y to USD614 million, with an EBITDA margin of 48.8% (48.0% in June 2021). Net profit for the quarter stood at USD178 million, up 25.3% compared to USD142 million a year earlier.

Total subscriptions rose to 131.6 million from 120.8 million at end-June 2021, including 46.5 million data subscriptions (42.4 million the previous year) and 27.6 million mobile money subscriptions.

India, Airtel Africa