Airtel Africa has reported $57 million in net profit for the quarter ended June 2020, recording a 57 per cent year on year (YoY) decline, making it the third straight quarter of declining bottomline. This fall in net profits has been attributed to the business disruption caused by the COVID-19 pandemic.
The operator’s consolidated net profit from operations in 14 countries declined by 25.9 per cent from $77 million reported in the previous quarter, on a sequential basis.
Further, Airtel Africa’s consolidated revenue increased to $851 million during the QE June 2020, recording YoY growth of 6.9 per cent. Meanwhile, the operator’s constant currency revenue grew by 13 per cent on YoY basis. Across key business segments, voice revenue was up by 2.2 per cent, data by 35.7 per cent and mobile money by 26.3 per cent. Further, earnings before interest, tax, depreciation and amortization stood at $375 million, recording a growth of 7.9 per cent, with constant currency growth of 14.6 per cent.
Meanwhile, Airtel Africa’s total customer base grew from 110.6 million to 111.5 million during the QE June 2020. On the other hand, key operating metric average revenue per user (ARPU) reduced from $2.7 to $2.6 on quarter on quarter basis. Data usage per customer was up from 2.1 GB to 2.6 GB while voice usage per customer increased from 211 minutes to 218 minutes sequentially.