Airtel Africa has reported a net profit of $192 million in the second quarter (Q2) of the current financial year (FY22), recording a growth of over 50 per cent on Y-o-Y basis and over 35 per cent sequentially. This growth can be attributed to a sharp reduction in financial costs coupled with decent growth in data and mobile money revenues.
Further, the telco’s revenue for the quarter increased by 20 per cent on YoY basis and 4.31 per cent sequentially to $1.16 billion.
The profit for the first-half FY ended September 2021 more than doubled on YoY basis to $335 million. The revenue for the same period grew by 25 per cent on YoY basis to $2.27 billion.
Meanwhile, the net finance costs during Q2 FY22 fell by 23 per cent on YoY basis and nearly 27 per cent sequentially to $71 million. Also, Airtel Africa’s net debt reduced by 11.61 per cent sequentially to $3.12 billion during the period under consideration.
Airtel Africa’s customer base across 14 markets in the continent increased by 1.6 per cent on QoQ basis to 122.7 million but monthly churn rose to 4.3 per cent. Further, the telco’s average revenue per user (ARPU) grew by 1.5 per cent sequentially to $3.1 in the September quarter.
