Connect with us

International Circuit

Airtel Africa Q3 net up 7% on year

Bharti Airtel’s Africa business reported a net profit of $193 million for the fiscal third quarter, a 7% rise from a year ago, bolstered by decent growth in customer base, data and mobile money revenues.

Airtel Africa’s net profit grew almost 27% sequentially in the October-December period, on the back of a near 22% on-quarter fall in net finance costs to $161 million.

Revenue for the quarter ended December rose 11% on-year and 3.2% sequentially to $1.35 billion, the company said Thursday.

Average revenue per user (ARPU) – a key performance metric – was up 2.1% from the quarter before, and 5.8% on-year to $3.1.

“Providing affordable, innovative and essential services to customers in our 14 markets is integral to our ambition…the strong results are testament to this strategy despite the current macro-economic and geopolitical uncertainties,” Segun Ogunsanya, Airtel Africa’s chief executive officer, said in an official statement.

Bharti Airtel’s Africa business reported a net profit of $193 million for the fiscal third quarter, a 7% rise from a year ago, bolstered by decent growth in customer base, data and mobile money revenues.

Airtel Africa’s net profit grew almost 27% sequentially in the October-December period, on the back of a near 22% on-quarter fall in net finance costs to $161 million.

Revenue for the quarter ended December rose 11% on-year and 3.2% sequentially to $1.35 billion, the company said Thursday.

Average revenue per user (ARPU) – a key performance metric – was up 2.1% from the quarter before, and 5.8% on-year to $3.1.

“Providing affordable, innovative and essential services to customers in our 14 markets is integral to our ambition…the strong results are testament to this strategy despite the current macro-economic and geopolitical uncertainties,” Segun Ogunsanya, Airtel Africa’s chief executive officer, said in an official statement. MarketScreener

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2024 Communications Today

error: Content is protected !!