Airtel Africa, a leading provider of telecommunications and mobile money services with a presence in over 14 countries of Africa, has reported its profit after tax to be $178 million for the quarter ending June 2022. This is a 25.3% jump from $142 million in profit during the same quarter last year. For investors, the basic earning per share (EPS) grew from 3.3 cents last year same quarter to 4.4 cents in June 2022 quarter. This signifies a jump of 31% YoY in EPS. Airtel Africa said that its revenues grew 13% in reported currency to $1,257 million and jumped 15.3% in constant currency terms. There was a growth in mobile services revenue in multiple regions including Nigeria, East Africa and in Francophone Africa. In all the same regions, Airtel Africa said that its revenues from Mobile Money services also grew. What’s really good here is that Airtel Africa’s free cash flow grew by 10.3% YoY to $473 million from $428 million last year. The total customer base of the telco has increased to 131.6 million. Segun Ogunsanya, Chief Executive Officer, said that inflation is having an impact on the company’s cost base, particularly on energy costs. Talking about the new venture of Airtel Africa, Ogunsanya said, “After receiving the Payment Service Bank licence in Nigeria just a few months ago, it is a testament to our prior preparation that we have already managed to launch our mobile money operations in a few select locations without any operational issues.”
