Browsing: Airtel Africa profits

Airtel records a massive rise in profit of $1.03 billion in Q1 2021 due to an increase in data and mobile money subscribers between January and March 2021.

In its latest financial report for Q1 2021, Airtel saw a significant rise in revenue by 21.7 per cent from  Q1 of 2020 which recorded $899 million in revenue. However, due to constant currency change, the revenue growth is at 15.4 per cent.

In Q1 2021, Airtel recorded a $215 million increase in profit before tax from $97 million recorded in Q1 2020 despite recording a 6.9 growth in its total subscribers.

In Q1 2021 Airtel recorded profits of $154 million in profits after tax compared to $77 million recorded in 2020.

Data service saw an increase of 31.7 per cent to record $315 million in revenue compared to $253 million in Q1 2020 while mobile money recorded a 38.7 per cent …