The financial report for the year ending March 31, 2021 has been issued by Airtel Africa, the holding company for Bharti Airtel’s activities in Africa.
The company’s revenues have increased by 14.2 percent to $3.8 billion, according to the study.
Airtel Africa produced net profits of $415 million as a result of this income, a minor increase of 1.8 percent over the previous year’s profit after tax of $408 million.
Despite the flat earnings increase, the company has achieved an outstanding outcome in a year when Covid-19 has slowed economic growth across Africa.
Furthermore, a prohibition on SIM card registration in Nigeria, the company’s largest market, hindered expansion.
Airtel Africa’s CEO, Raghunath Mandava, said in a statement, “In these challenging times, I want to say a huge thank you to all our employees, our business partners, and governments and regulators who have supported us, and in turn facilitated our continued support to the economies and communities we serve.
The true stars of the show are data and mobile money earnings. Data accounted for 35% of income, and it continues to show potential as Airtel expands its internet infrastructure investment.
“Data usage per customer reached 2.6 GB per customer (from 1.8 GB per customer) led by an increase in smartphone penetration and expansion of our home broadband and enterprise customers. This helped us grow data revenue 31.2% in constant currency. Growing penetration and usage of 3G and 4G data customers helped us grow data ARPU 8.2%. 4G data usage more than doubled in the year, contributing 62.2% of total data usage on the network in Q4’21.”
Airtel Money is also enjoying considerable growth, with revenue increasing by $401 million from $311 million last year.
