Airtel records post tax profit of $514m in 9 months


Airtel Africa plc has reported profit after tax of $514 million for the nine months financial year ended December 31, 2021.

The company result released over the weekend showed that it’s PAT increased by 97.3 per cent against $261 million recorded the previous year.

Also profit before tax up by 79.4 per cent to $864 million from $482 million achieved in the comparative period of 2020.

The company reported revenue grew by 21.7 per cent to $3,492 million from $2,850 million recorded the same period of 2020. Analysis of the result showed that Constant currency underlying revenue grew by 24.8 per cent, while constant currency underlying revenue growth was recorded across all regions: Nigeria up 29.0 per cent , East Africa up 24.4 per cent and Francophone Africa up 19.0 per cent and across all key services, with revenue in Voice up 16.1 per cent and in Data and Mobile Money both up 37.2 per cent.

The customer base expanded to 125.8 million, growing by 5.8 per cent , with increased penetration across mobile data -customer base up 11.1 per cent and mobile money services -customer base up 19.6 per cent . Customer base growth was affected by the NIN/SIM regulations in Nigeria but returned to growth in this region in the third quarter; excluding Nigeria the customer base grew by 12.0 per cent .

Chief Executive Officer, Segun Ogunsanya said ” A strong third quarter has contributed to a pleasing nine-month financial performance across all key metrics.”