Bharti Airtel In Africa

Reliance Industries Ltd, through its subsidiary, is set to offer cutting-edge 5G shared network infrastructure solutions in Africa in collaboration with a local company supported by Ghana

Bharti Airtel's Africa unit, Airtel Africa, has posted a loss of USD 91 million, about Rs 760 crore, in the fourth quarter ended March 2024 on account of tax impact and forex loss, the company said on Thursday. Airtel Africa had posted a consolidated profit of USD 227 million in the same period a year ago. The consolidated revenue of the company, which operates in 14 African countries, declined by 16.6 per cent to USD 1,118 million during the reported quarter from USD 1,341 million in the March 2023 quarter. The revenue was, however, up 23.1 per cent on a constant currency basis. For the year ended on March 31, 2024, Airtel Africa posted a loss of USD 89 million while the company registered a profit of USD 750 million. "Loss after tax of USD 89 million during the year ended 31 March 2024 was primarily impacted by the USD 549 million net of tax impact of the exceptional derivative and foreign exchange losses. Excluding these exceptional items, profit after tax for the year ended 31

The ARPU rise has helped operating profit grow by 5.6 per cent (quarter-on-quarter) Q-o-Q in Q1FY24

The company's tender offer to purchase $ 300 million worth of its 5.35% guaranteed senior notes of $ 1 billion due 2024 has commenced from June 21 and will expire on July 19, 2022, Bharti Airtel said

Revenue market share continues to consolidate with Reliance Jio and Bharti Airtel as Vodafone Idea loses 10 million users per quarter

Earlier this week, Moody's Investors Service had placed Bharti Airtel's rating on review for downgrade on low levels of profitability and expectation of weak cash flow

Airtel would, even post IPO, continue to majority own Airtel Africa limited, UK and in turn the African operations

Airtel started registering profits in the March quarter, marking a turnaround in its African business