Airtel Africa reports 24% profit jump to $210 million in December quarter
Mumbai: Airtel Africa said net profit jumped 24% year-on-year to $210 million in the quarter to December, largely on margin expansion. The company had reported a net profit of $169 million in the year-ago quarter. Revenue rose 33% on-year in reported currency terms to $1,685 million as compared with $1,268 million in the year-ago period.
“Disciplined execution on cost efficiency, alongside accelerating revenue growth, has enabled another sequential improvement in our quarterly EBITDA margin to 49.6%, underpinning constant currency EBITDA growth of 31%,” Airtel Africa CEO Sunil Taldar said, adding “we remain focussed on driving further incremental margin improvements”.
