Airtel Africa has reported $103 million in net profits for the quarter ended December 2019, recording a 20.9 per cent year on year (YoY) decrease. Decline in Airtel Africa’s profit was reportedly triggered by higher taxes.
Meanwhile, the operator’s revenue stood at $883 million on constant currency basis during QE December 2019.
Airtel Africa reported that its revenue increased by 12.8 per cent, with constant currency growth of 14.2 per cent. This increase in revenue has been attributed to strong performance in Nigeria and East Africa and an improvement in the performance of the Rest of Africa.
Further, the company said that its mobile services revenue increased by 11.1 per cent and 12.4 per cent in constant currency during the period under consideration. Both voice and data revenue contributed to this growth.
Also, Airtel Africa’s free cash stood at $155 million during the period under consideration, recording a YoY increase of 653 per cent.