Airtel Africa has announced a profit after tax of $31 million for the financial period ending on June 30, 2024. This represents a significant increase of 120.3% compared to a negative profit of $151 million reported during the same period last year.
However, the company’s revenue decreased by 16.1% to $1,156 million, as compared to $1,377 million in the corresponding period of the previous year.
Airtel Africa mentioned that its revenue in constant currency experienced a growth of 19.0% in the first quarter of 2025. This growth was primarily driven by a 33.4% increase in Nigeria and a 22.3% increase in East Africa.
Despite this positive news, the reported currency revenues declined by 16.1% to $1,156 million, which is mainly attributed to the impact of currency devaluation, especially in Nigeria.
In terms of the company’s mobile services, the group witnessed a revenue growth of 17.4% in constant currency, while the Mobile Money sector experienced a remarkable growth of 28.4%.
Regarding these financial results, Airtel Africa’s CEO, Sunil Taldar, stated, “The continuous revenue growth reflects the resilient demand for our services, along with a steady increase in our customer base and usage. Our efficient execution allows us to seize these opportunities, while maintaining our reputation as a cost leader in the industry.”
