Airtel Africa Q3 net profit rises 7.5% to Rs 1,586 cr, revenue up 10.7%

Telecom operator Bharti Airtel said its African arm Airtel Africa on Thursday posted a 7.5 per cent growth in profit after tax at USD 193 million, about Rs 1,586 crore, in the third quarter ended December 2022.

The company had posted a profit after tax (PAT) of USD 180 million in the same period a year ago.

"Providing affordable, innovative and essential services to customers in our 14 markets with unparalleled network quality and customer service is integral to our ambition of transforming lives across Africa. These strong results are testament to this strategy despite the current macro-economic and geopolitical uncertainties," Aitel Africa Chief Executive Officer Segun Ogunsanya said in a statement.

The revenue of Airtel Africa during the reported quarter increased by 10.7 per cent to USD 1,350 million from USD 1,219 million in December 2021 quarter.

In constant currency term, revenue of Airtel Africa grew 18 per cent.

Total customer base of Airtel Africa increased by 10.1 per cent to 138.5 million during the reported quarter on year-over-year (YoY) basis.

The data customer base of the company increased by 13.6 per cent to 21.3 million and mobile money customer base went up by 22.2 per cent to 31.4 million on YoY basis.

The average revenue per user (ARPU), a key matrix to measure telecom operator's performance, remained almost flat on reported currency basis at USD 3.3, but increased by 7.2 per cent in the local currency terms.

"Higher usage across voice, data and money have contributed to further ARPU growth of over 7 per cent, resulting in 18 pe cent revenue growth in the quarter as penetration across each segment continues to increase. I am particularly excited by the performance of our mobile money business, with annualised transaction value reaching nearly USD 100 billion, as we continue to drive financial inclusion in the continent," Ogunsanya said.