Airtel Africa Plc on Wednesday reported a 14.2 per cent ($3.91bn) progress in earnings in its Q1 2021 earnings.
The corporate mentioned it recorded income progress throughout all its areas: Nigeria by 21.9 per cent; East Africa by 23.5 per cent and Francophone Africa by 10 per cent.
Revenues for voice was up by 11 per cent, knowledge was up 31.2 per cent and cell cash was up 35.5 per cent.
Chief Government Officer, Airtel Africa Plc, Raghunath Mandava, in a press release on Wednesday, mentioned, “In these difficult instances, I wish to say an enormous thanks to all our workers, our enterprise companions, and governments and regulators who’ve supported us, and in flip facilitated our continued assist to the economies and communities we serve.
“Our efficiency has been robust, with reported progress of 13.6 per cent in underlying income and 18.3 per cent in underlying EBITDA, and fixed forex progress of 19.4 per cent and 25.2 per cent respectively.
“Contributions to this progress got here throughout all areas, with explicit enchancment in Francophone Africa, and throughout all our main companies, with cell cash, knowledge
and voice every posting double-digit income progress.
“Our buyer base additionally grew strongly for a lot of the 12 months with new buyer registration necessities in Nigeria stemming our onboarding of recent prospects within the closing quarter, and these restrictions had been lifted in second half of April.”
The corporate’s working revenue elevated by 24.2 per cent to $1.12bn in reported forex, and by 32.8 per cent in fixed forex. Free money stream was up by 42.8 per cent $647m on the prior 12 months.
The corporate grew its buyer base by 6.9 per cent to 118.2 million, with elevated penetration throughout cell knowledge (buyer base up 14.5 per cent ) and cell cash companies (buyer base up 18.5 per cent).
Nonetheless, it witnessed slowdown in buyer base progress attributable to new SIM registration laws in Nigeria.