Airtel Africa’s net profit down to $7 million in first quarter of FY25

Airtel Africa announced on Thursday that the telecom provider posted $7 million in net profit during the first quarter of the current financial year (Q1FY25). This translated into a net loss of $170 million in the same quarter of the previous year.

Continuing to be pummelled by the ongoing currency devaluation, the company reported a 16.1 per cent fall in revenues to $1.15 billion, down from $1.37 billion in Q1FY24. Revenue growth was particularly impacted by significant currency devaluations in Nigeria, Malawi, Zambia, and Tanzania.