 "Bharti Airtel narrows its revenue gap with Reliance Jio in March quarter")
Bharti Airtel’s African arm on Friday posted a net profit of $132.2 million, down 12.2 per cent from the corresponding period last year, at a time when the company is readying 4G spectrum to roll out wireless home broadband services in select nations.
This was Airtel Africa’s first results announcement after the $750-million initial public offering in June. It had reported net profit of $150.6 million in June 2018.
Revenue increased to $795.9 million, up 6.9 per cent, with growth of 10.2 per cent in constant currency terms. This was driven by double-digit growth in Nigeria and East Africa, and was partially
