Airtel Africa’s revenue increased by 17.8 percent in the first quarter of this year with the Nigerian market accounting for the largest chunk of the earnings generated from data consumption and voice calls.
The Bharti Airtel subsidiary generated $1.22 billion in the first three months of 2022 across its 14 markets in Africa, surpassing the $1.03 billion the network provider reported in the first quarter of 2021.
The Airtel Africa’s Q1 2022 financial statement seen by Ripples Nigeria on Wednesday revealed that the company’s turnover rose by 27.7 percent in Nigeria during the period under review, more than the earnings reported in East Africa (22.7 percent) and Francophone Africa (17.2 percent).
The company reported that operating profit rose to $390 million in Q1 this year compared to $319 million recorded in Q1 2021 as voice, data and mobile money revenue rose by 13.6 percent, 27.9 percent and 29 percent respectively.
It recorded $611 million as earnings from voice or airtime sales between January and March against the $547 million generated from the business segment in Q1 last year.
The turnover from data usage was placed at $397 million in the first quarter of 2022, surpassing the $315 million Airtel Africa grossed during the same period in 2021.
Airtel Africa posted $147 million from Mobile Money business during the period under review in contrast to the $110 million it generated from the venture in Q1 2021.
The company grossed $240 million as profit after tax, up by 56 percent from the $154 million posted in the same period last year.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
SPECIAL REPORT: Illegal miners degrade Ekiti community, engage in child labour
The activities of illegal miners in a community in Ekiti State have caused degradation of the environment, as miners engage...
SPECIAL REPORT: Inside the illegal trading of forest woods in Cross River community
“With a N20,000 bribe, an external buyer can influence the youth in host communities , Cross River State, to cut...
SPECIAL REPORT: Enugu govt watches as waste takes over state, threatens public health, environment
In this report, Arinze Chijioke looks at how delays in evacuation of waste in Enugu State encourages indiscriminate waste disposal, its health implications, and how...
INVESTIGATION: NDDC awards N1bn road contract to poultry farm
The Niger Delta Development Commission (NDDC) in what appears a breach of procurement laws, awarded a contract worth N1.028 billion...
FEATURE… Hard job, low income: Agony of Nigerian commercial drivers
Amid increase in fuel price over the years, coupled with bad roads and insecurity in Nigeria, many commercial drivers have...