Airtel Africa FY21 net profit flat at $415 million

Bharti Airtel Ltd’s Africa unit on Wednesday reported a net profit of $415 million for the financial year ended March, compared to $408 million a year ago, the company said in a statement.

Airtel Africa PLC’s revenue from operations for fiscal year 2021 was at $3,888 million, up 19.4% year-on-year (y-o-y) in constant currency and 13.6% on a reported basis, driven by robust growth across voice, data and mobile money segments in key markets of Nigeria, East Africa and Francophone Africa.

Reported currency revenue also benefitted from a one-time exceptional gain of $20 million relating to a settlement in Niger, the company said.

Airtel Africa is the holding firm for Bharti Airtel’s operations in 14 countries, with Nigeria alone accounting for almost half of its earnings before interest, tax, depreciation and amortisation (Ebitda).