Airtel Africa Q2 net rises 78% to $96 mn on strong growth in user base

Bharti Airtel’s African arm Airtel Africa on Friday reported a 78 per cent jump in net profit to $96 million for the second quarter ended on September 30, 2019, driven by growth in customer base.

The company had recorded a net profit of $54 million in the same period a year ago.

The profit growth of the company, which provides telecom services in 14 African countries, was 83.6 per cent during the period under review in constant currency terms.

“The constant currency revenue growth of 11.4 per cent was driven by double-digit growth in Nigeria and East Africa, partially offset by a slight decrease in Rest of Africa,” Airtel Africa said in a statement.

The revenue of Airtel Africa grew 9.8 per cent to $844 million during the reported quarter from $769 million in the corresponding quarter of 2018-19.