Key takeaways from Airtel Africa's financial statement for the year ended March 2022
Airtel Africa recorded a 20.6%% increase in revenue, even as profit after tax jumped by 82.0%%.The impressive growth was driven by strong performance in the voice, data and mobile money segments of the company's operation.The telecom services provider also saw its customer base increase by 8.7%% year on year to 128.4 million, up from 118.2 million. Airtel Africa Plc has released its financial report for the financial year ended March 31st, 2022. Business Insider Africa got a copy of the document and hereby bring you the key takeaways. For the period under review, the telco said its underlying revenue increased by 20.6% to $4.7 billion, higher than the $3.9 billion that was reported during the comparable financial year ended March 2021. READ: 20 African countries with the most expensive average prices of mobile data The increase was driven by strong performance in the voice, data and mobile money segments of the company's operation. Specifically, revenue generated from the voice segment stood at $2.3 billion, followed by data revenue at $1.5 billion and then mobile money revenue at $553 million. Other revenue generated by the company for the period stood at $407 million. The company's total expenses for the period under review was $2.4 billion. Among the expenses is a total tax charge of $469 million. READ: Regulator reacts, as telecom operators in Africa's most populous country clamours for tariff hike Meanwhile, profit after tax for the period stood at $755 million, indicating an 82.0% growth year on year. While commenting on the telco's impressive performance, the Chief Executive Officer, Segun Ogunsanya, said: "This is another strong set of results for Airtel Africa, demonstrating our solid execution as we continue to enrich the lives of a growing number of people through leveraging the sizeable opportunity to promote digital and financial inclusion across our markets. We have delivered strong double-digit growth in revenues across all our regions and all our key services, with improving margins driven by strong cost control, and expanding cash generation which is enabling us to continue to invest in our network and services and expand our distribution, as well as strengthening our balance sheet and increasing our returns to shareholders." READ: What's the future of Africa's telecoms industry? This industry stakeholder has some expert opinions As you should know, Airtel Africa is leading provider of telecom and mobile money services across 14 African countries. It currently has a total user base of 128.4 million, marking an 8.7% increase compared to 118.2 million during the preceding financial year. The company is also listed on the Nigerian Exchange where it currently trades with a share price of N1,400 ($3.3). READ: Airtel Africa receives super agent licence from Nigeria's central bank
- Airtel Africa recorded a 20.6%% increase in revenue, even as profit after tax jumped by 82.0%%.
- The impressive growth was driven by strong performance in the voice, data and mobile money segments of the company's operation.
- The telecom services provider also saw its customer base increase by 8.7%% year on year to 128.4 million, up from 118.2 million.
Airtel Africa Plc has released its financial report for the financial year ended March 31st, 2022. Business Insider Africa got a copy of the document and hereby bring you the key takeaways.
For the period under review, the telco said its underlying revenue increased by 20.6% to $4.7 billion, higher than the $3.9 billion that was reported during the comparable financial year ended March 2021.
READ: 20 African countries with the most expensive average prices of mobile data
The increase was driven by strong performance in the voice, data and mobile money segments of the company's operation. Specifically, revenue generated from the voice segment stood at $2.3 billion, followed by data revenue at $1.5 billion and then mobile money revenue at $553 million. Other revenue generated by the company for the period stood at $407 million.
The company's total expenses for the period under review was $2.4 billion. Among the expenses is a total tax charge of $469 million.
READ: Regulator reacts, as telecom operators in Africa's most populous country clamours for tariff hike
Meanwhile, profit after tax for the period stood at $755 million, indicating an 82.0% growth year on year.
While commenting on the telco's impressive performance, the Chief Executive Officer, Segun Ogunsanya, said:
"This is another strong set of results for Airtel Africa, demonstrating our solid execution as we continue to enrich the lives of a growing number of people through leveraging the sizeable opportunity to promote digital and financial inclusion across our markets. We have delivered strong double-digit growth in revenues across all our regions and all our key services, with improving margins driven by strong cost control, and expanding cash generation which is enabling us to continue to invest in our network and services and expand our distribution, as well as strengthening our balance sheet and increasing our returns to shareholders."
READ: What's the future of Africa's telecoms industry? This industry stakeholder has some expert opinions
As you should know, Airtel Africa is leading provider of telecom and mobile money services across 14 African countries. It currently has a total user base of 128.4 million, marking an 8.7% increase compared to 118.2 million during the preceding financial year.
The company is also listed on the Nigerian Exchange where it currently trades with a share price of N1,400 ($3.3).
READ: Airtel Africa receives super agent licence from Nigeria's central bank
