Airtel Africa records 82% Profit After Tax growth

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By Olawunmi Ashafa

Lagos, May 12, 2022 Airtel Africa Plc.’s profit before tax grew by 82 per cent to 755 million dollars in the financial year ended March 31, compared to the corresponding period in 2021.

The company stated in Lagos on Wednesday that the strong growth resulted from margin expansion and cash generation.

It added that the growth was driven by strong performance in the voice, data and mobile money segments of the company’s operations.

It explained that its customer base increased by 8.7 per cent in the financial year under review to 128.4 million as against the 118.2 million posted in 2021.

Constant currency underlying revenue grew by 23.3 per cent for the year with Nigeria topping the trend with 27.7 per cent increase.

East Africa had 22.7 per cent increase, while Francophone Africa recorded a 17.2 per cent across all key services.

Revenue from voice calls went up by 15.4 per cent; data usage went up by 34.6per cent, while Mobile Money rose by 34.9 per cent.

Underlying Earnings before Interest, Taxes, Depreciation, and Amortisation of 2.311 billion dollars increased by 29 per cent.

Operating profit increased by 37.2 per cent to 1.535 million dollars, while profit after tax grew by 82 per cent to 755 million dollars, the company stated