Airtel Africa reports fall of 21% in net profit at $65 mn for March qtr

The African arm of Bharti Airtel reported 15% on-year rise in revenue and 1.81 % sequentially to $899 million, driven by strong contributions from the voice, data and mobile money verticals

Airtel Africa on Wednesday reported a 21% decline in its net profit at $65 million for the quarter ended March 31. This was against $82 million in the corresponding period, last fiscal, mainly on account of higher finance costs.

While Airtel Africa’s total expenses climbed 11% year-on-year to $658 million due to sharply higher network operating costs, access charges, sales & marketing expenses and bigger payouts towards licence fees/SUC, depreciation & amortizations costs rose marginally by 1%.

The African arm of Bharti Airtel reported 15% on-year rise in revenue and 1.81 % sequentially to $899 million, driven by strong contributions