Airtel Africa Net Profit Doubles to $154 mn in FY 2021 Results

Airtel Africa, the holding company for Bharti Airtel’s operations in Africa, revenues are up by 14.2% to $3.8 billion for the year ended March 31, 2021.

Bharti Airtel’s Africa business reported a net profit of $154 million in the fourth quarter ended 31 March.

This was an improvement from the KSh43.7 billion ($408 million) net profit posted in March 2020 on the back of strong growth in data and mobile money revenue, besides lower interest and tax expenses.

Revenue for the quarter ended 31 March rose 15.4 per cent to $1.04 billion, the company said in a statement Wednesday.

Our performance has been strong Airtel Africa’s CEO, Raghunath Mandava, said in a statement adding that “With reported growth of 13.6 per cent in underlying revenue and 18.3 per cent in underlying EBITDA, and constant currency growth of 19.4 per cent and 25.2 per cent, respectively.”

“Contributions to this growth came across all regions, with particular improvement in Francophone Africa, and across all our major services, with mobile money, data and voice each posting double-digit revenue growth.”

For its future outlook, Airtel Africa will increase its investments in the 4G network to provide fast internet connectivity to its clients. 

“The Group’s strategy is to invest in our network by expanding 4G coverage and building capacity to cater for the future needs of our customers and to continue providing them with high-speed data,” said the company.

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