Telecom operator Airtel Africa on Wednesday said its revenue increased by 17.8 per cent to USD 1.22 billion in the fourth quarter ended 31 March compared with USD 1.04 billion in the same period a year earlier.
This translates to an 82 per cent increase in net profit to $755 million for FY22 compared to the previous financial year.
“We have delivered strong double-digit growth in revenues across all our regions and all our key services, with improving margins driven by strong cost control, and expanding cash generation which is enabling us to continue to invest in our network and services and expand our distribution, as well as strengthening our balance sheet and increasing our returns to shareholders,” said Segun Ogunsanya, chief executive officer of Airtel Africa.
“We are connecting more customers in new and existing coverage areas and driving usage levels and ARPUs to new highs,” he added.
Earnings before interest, tax, depreciation and amortisation (EBITDA) were up 22.9 per cent on year to $608 million in the quarter ended March, while it was up 29 per cent on year to $2.3 billion for the full financial year ended March 2022.
Margins also saw equal traction upwards to 49.7 per cent in Q4FY22 versus 47.7 per cent in Q4FY21. For the full year, margins rose to 49 per cent in FY22 from 46.1 per cent in FY21.
The telco’s customers increased by 8.7 per cent in FY22 to 128.4 million.