Airtel Africa has reported a net profit of $88 million for the quarter ended September 2020, recording a year on year decline of 8.3 per cent. This fall has been attributed to higher net finance costs.

However, the telco’s profit after tax after exceptional items increased by 54.3 per cent from preceding quarter’s $57 million.

During QE September 2020, Airtel Africa’s subscriber base across 14 African countries stood at 116.4 million, recording quarter on quarter growth of 4.4 per cent. Meanwhile, its average revenue per user (ARPU) increased from $2.6 during QE June 2020 to $2.8 during QE September 2020.

Further, Airtel Africa’s mobile money transaction value increased by 28.87 per cent to $116.4 million sequentially. The mobile money revenue was $100 million and ARPU was $1.7 during the period under consideration.