Airtel Africa Q2 net profit declines 8.8%

Airtel Africa posted an 8.8% drop in net profit to $88 million in quarter ended September 2020 over quarter ended September 2019.

Airtel Africa's revenue grew by 14.3% on a reported basis and 19.6% in constant currency, to $965 million in Q2 September 2020. Underlying EBITDA stood at $437 million in quarter ending September 2020, rising 17.5% year on year. Airtel Africa's EBITDA margin grew by 123 basis points to 45.3% in Q2 September 2020 from 44.1% in Q2 September 2019.

Airtel Africa's total customer base grew to 116.4 million in the September 2020 quarter from 103.9 million in September 2019 quarter.

Meanwhile, Bharti Airtel was up 1.14% at Rs 435.55. It will announce its Q2 result on 27 October 2020.

Bharti Airtel is a leading global telecommunications company with operations in 18 countries across Asia and Africa.

The telecom major reported a consolidated net loss of Rs 15,933 crore in the June quarter as against net loss of Rs 2,866 reported in the same period last year. Total revenues increased by 15.4% year-on-year (YoY) to Rs 23,939 crore during the quarter. EBITDA margin stood at 44.4% as on 30 June 2020 as against 41% as on 30 June 2019.

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