WHEN compared to the same period in the previous financial year, Airtel Africa Plc’s profit before tax increased by 82 percent to 755 million dollars in the fiscal year ending March 31, 2022.
The business said in a regulatory statement on Wednesday in Lagos that the high growth was due to margin expansion and a good cash position over the time.
According to management, Airtel Africa’s development was fueled by robust revenue earned across its voice, data, and mobile money operations throughout the period.
Airtel Africa’s user base climbed by 8.7% to 128.4 million in the fiscal year under review, compared to 118.2 million in the same time in 2021.
Meanwhile, its financials show that income increased by 23.3 percent in constant currency for the year, with Nigeria leading the way with a 27.7% gain.
East Africa saw a 22.7 percent growth in all essential services, while Francophone Africa saw a 17.2 percent gain. The figures show that revenue from phone calls increased by 15.4%, data usage increased by 34.6 percent, and Mobile Money increased by 34.9 percent.
According to the company’s financial statement, earnings before interest, taxes, depreciation, and amortization of 2.311 billion dollars climbed by 29% throughout the period.
The company also revealed that the operating profit jumped by 37.2 percent to 1.535 million dollars during the period, while profit after taxes increased by 82 percent to 755 million dollars.
