An increase of Internet access through mobile phones has seen growth in data revenue. PHOTO BY ERONIE KAMUKAMA
Kampala- Revenue from data and mobile money steered Airtel Africa’s operations, boosting the
company’s overall revenue by 9.9 per cent.
The telecom’s revenue grew to $2.5b for the nine months ended December 31 from $2.2b in 2018.
company’s overall revenue by 9.9 per cent.
The telecom’s revenue grew to $2.5b for the nine months ended December 31 from $2.2b in 2018.
According
to the company’s results released yesterday, Airtel Africa realised 3.9
per cent increase in voice revenue, 39 per cent and 40.4 per cent in
data and mobile money, respectively during the period.
“We
are also increasingly seeing the success of our strategy to lead in the
roll-out of modernised 4G networks, with more than 40 per cent increase
in data revenues for the quarter… our mobile money offer as well as
increasing the distribution footprint have helped gain further
acceptance of Airtel money,” Mr Raghunath Mandava, chief executive
officer, Airtel Africa said, highlighting improved performance in the
rest of Africa, Nigeria and East Africa.
Airtel Africa
recorded $228m for the nine months ended December 2019 up from $167m in
2018 from mobile money and data revenue grew to $677m from $496m in
2018.
The India based telecom also grew its voice
revenue to $1.46b during the period from $1.44b in 2018 which was
attributed to growth in the subscribers to 107.1m from 97.9m of these,
32.9m are data users who grew from 29.3m in 2018.
Despite
an improvement in its operating profit, Airtel’s bottom line suffered a
2.2 per cent dip from $338m in net profit for 2018 to $331m in 2019
weighed down by one-off deferred tax recognition in Nigeria in the
nine-month period ending 31 December 2018.
The telecom incurred a total tax charge of $170m as a result of
higher operating profit and withholding tax on dividends as the Nigerian
subsidiary declared a first dividend.
Airtel Africa
which raised $750m (Shs2.7 trillion) in its initial public offering at
the London Stock Exchange last year, with an aim of implementing some of
its strategies as well as paying off debts registered $3.2b in net
debt. This is a reduction from $4.1b during the same period in 2018.
Bharti Airtel
Bharti
Airtel, the parent company of Airtel Africa, according to First Post,
an online news source has suffered increased liabilities following an
October 2019 Supreme Court ruling that held that non-core revenues have
to be considered for calculating statutory dues.
In its report, Airtel noted that the group’s intermediate parent company has successfully raised approximately $3b of additional capital through a combination of qualified institutional equity placement and convertible bond offerings.
In its report, Airtel noted that the group’s intermediate parent company has successfully raised approximately $3b of additional capital through a combination of qualified institutional equity placement and convertible bond offerings.
As a result, the directors have
concluded that the previously highlighted material uncertainty around
the group’s ability to continue as a going concern no longer exists and
that the Group has adequate committed and non-committed facilities to
operate as a going concern.
editorial@ug.nationmedia.com
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