Airtel Africa reports $31 mn net profit in Q1FY25 on lower finance costs

Kolkata: Bharti Airtel’s Africa business reported a modest $31 million net profit in the fiscal first quarter compared to a $151 million net loss a year ago, on the back of a sharp fall in net finance costs, but revenues declined on-year, primarily stung by currency devaluation in Nigeria.

Airtel Africa’s revenue fell 16% from a year back to $1.15 billion, reflecting the impact of currency devaluation, particularly in Nigeria, coupled with an unchanged data user base. Sequentially, though, revenue rose 3.4%, helped by a higher average revenue per user (ARPU) and strong growth momentum of the mobile money business.