Browsing: Airtel Africa profits

Airtel Africa’s profit after tax has risen to $142 million in the quarter of June compared to the year-ago period, the company has said.

The telecom and mobile money services provider on Thursday July 29, 2021 said its profit has more than doubled.

The company attributed the growth to the higher operating profits along with stable net finance costs which more than offset the increase in tax charges due to increased profits.

The telco company which enjoys a presence in 14 countries in Africa said that strong revenue growth was recorded in all regions and across key services.

Reported revenue

According to the company, reported revenue grew nearly 31 per cent to $1,112 million during the June quarter of 2021-22 with constant currency growth of about 33 per cent.

“Revenue growth partially benefitted from a weakened quarter in the prior year during the peak of COVID-19 restrictions across the region,” …

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 …