Business Standard

Airtel Africa posts USD 412 mn profit in FY19

Image

Press Trust of India New Delhi
Airtel Africa, a subsidiary of Bharti Airtel that provides services in Africa, Tuesday reported its first full-year profit at USD 412 million for the 2018-19 fiscal, helped by higher data consumption and Airtel Money penetration.
The company had posted a loss of USD 138 million for 2017-18.
Its revenue increased by 5.73 per cent to USD 3,077 million in 2018-19 from USD 2,910 million a year ago, the company said.
"Increase in data and Airtel Money penetration led to faster net revenue growth," Airtel Africa said in its quarterly report.
With profit-after-tax of USD 89 million including exceptional items in January-March 2019 period, Airtel Africa recorded profit in all the quarters of the reported fiscal.
The company had posted a loss of USD 33 million in the January-March period of 2018.
Revenue increased by 6 per cent to USD 781 million during the reported quarter from USD 736 million in the corresponding period of 2017-18.
Data customers in Airtel Africa network increased by 5.1 million to 30 million as compared to 24.9 million in the previous year.
"Data customers now represent 30.4 per cent of the total customer base, as compared to 27.9 per cent in the previous year. The total MBs (megabytes) on the network grew by 65.3 per cent to 392.6 billion MBs compared to 237.5 billion MBs in the previous year," the report said.
Airtel Money revenue grew by close to 60 per cent to USD 243.3 million in FY19 as compared to USD 152.4 million in 2017-18.
Airtel Africa capital expenditure during the year was USD 630 million mainly to enhance data capacities and network modernisation, the report said.
As on Mar 31, 2019, the company had an aggregate customer base of 98.9 million as compared to 89.3 million in the corresponding quarter last year.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 30 2019 | 10:05 PM IST

Explore News