Airtel Africa Q1 profit grows multifold to USD 156 million
USD
156 million in the June quarter mainly on account of
customer
growth, lower capex, and forex gain.
The company had posted a profit after tax of USD 31 million in the same period a year ago.
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"Profit after tax of USD 156 million improved from USD 31 million in the prior period. The prior period was significantly impacted by derivative and foreign exchange losses, primarily in Nigeria, while the current period benefited from a USD 22 million gain largely arising from the Central African franc (CFA) appreciation during the quarter," the company said in a statement on Thursday.
Airtel Africa Chief Executive Officer Sunil Taldar said the acceleration in customer base growth to 9 per cent, and 17.4 per cent growth in data customers to 75.6 million reflect strong on-ground execution and the simplification of customer experience.
"With smartphone
penetration
at only 45.9 per cent, we see significant headroom to drive further adoption and play a key role in bridging the digital divide. Mobile
money
remains a cornerstone of our current and future growth proposition. With our customer base approaching 46 million and expanding by over 16 per cent, we see significant potential to further advance financial inclusion through the continued growth of our financial services offering," Taldar said.
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The
revenue
of Airtel Africa increased 22.4 per cent to USD 1,415 million during the reported quarter from USD 1,156 million a year ago.
The company said capex of USD 121 million was lower compared to USD 147 million in June 2024 quarter driven largely by timing differences.
Airtel Africa has enhanced capex guidance for the full year to be in the range of USD 725 million and USD 750 million from USD 670 million it incurred in FY25.
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