South Africa’s Telkom profit jumps on subscriber growth and digital services

JOHANNESBURG: South Africa’s Telkom reported 24.1% growth in core profit in the first quarter, buoyed by strong subscriber growth and increased use of its “next-generation network” (NGN) offerings as it ditched legacy services.

Core earnings or EBITDA at South Africa’s third-largest telecom company grew to 2.8 billion rand ($151 million) in the three months ended June 30, the operator, majority-owned by the government, said in a statement.