Airtel Africa posts USD 412 mn profit in FY19
Airtel Africa, a subsidiary of Bharti Airtel that provides services in Africa, Tuesday reported its first full-year profit at USD 412 million for the 2018-19 fiscal, helped by higher data consumption and Airtel Money penetration.
The company had posted a loss of USD 138 million for 2017-18.
Its revenue increased by 5.73 per cent to USD 3,077 million in 2018-19 from USD 2,910 million a year ago, the company said.
"Increase in data and Airtel Money penetration led to faster net revenue growth," Airtel Africa said in its quarterly report.
With profit-after-tax of USD 89 million including exceptional items in January-March 2019 period, Airtel Africa recorded profit in all the quarters of the reported fiscal.
The company had posted a loss of USD 33 million in the January-March period of 2018.
Revenue increased by 6 per cent to USD 781 million during the reported quarter from USD 736 million in the corresponding period of 2017-18.
Data customers in Airtel Africa network increased by 5.1 ...