Airtel Africa Q4 profit at $83 million; data demand, money services boost

NEW DELHI: Bharti Airtel’s Africa operations post a net profit of $83 million (around Rs580 crore) for the March-end quarter, compared with a net loss of $49 million a year ago, helped mainly by increased consumption of data services and a rise in the transaction value on the Airtel Money platform.

Airtel Africa’s net income for the January-March quarter, which fell from $123 million in the October-December period, was dragged by an exceptional loss of $ 7 million, “mainly on account network modernization across various OPCOs (operating companies),” the company said in its quarterly earnings report issued Tuesday.