Airtel Africa net profit doubles to $154 million in March quarter

Airtel Africa on Wednesday said its profit after tax (PAT) for the March 2021 quarter doubled to $154 million (over Rs 1,130 crore), helped by growth in key services like data and mobile money.

The underlying revenue for the fourth quarter ended March 31 stood at $1,038 million (about Rs 7,619 crore), rising 15.4 per cent year-on-year (YoY) on a reported currency basis.

In a statement, Airtel Africa said for the full year ended March 31, the reported revenue grew 14.2 per cent to $3,908 million (over $28,600 crore). “Growth was recorded across all regions — Nigeria up 21.9 per cent, East Africa up 23.5 per cent and Francophone Africa up 10 per cent; and across key services. 

Revenues for voice were up 11 per cent, data up 31.2 per cent and mobile money up 35.5 per cent, the statement said.

Airtel Africa said its customer base grew by 6.9 per cent to 118.2 million, with increased penetration across mobile data (customer base up 14.5 per cent) and mobile money services (customer base up 18.5 per cent). “The recent slowdown in customer base growth has been due to new SIM registration regulations in Nigeria,” it added.