Airtel Africa cautiously optimistic as trends improve

first_img Helios Towers inks several Airtel Africa deals Previous ArticleVodafone progresses tower plan, makes Greek pactNext ArticleEC demands urgent action on 5G supply chains Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved… Read more AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 24 JUL 2020 Author Related Airtel Africa Nigeria boss lands top job Airtel Africa taps Mastercard in latest money unit sale Airtel Africa CEO Raghunath Mandava highlighted a return to normal customer behaviour as Covid-19 (coronavirus) lockdown restrictions lifted in the latter part of its fiscal Q1, as the operator booked a sharp drop in net profit due to one-off gains in 2019.The executive noted the company had been impacted by changes in customer usage brought about by restrictions on social movement due to the pandemic, though noted these were mostly in April with trends improving in May and June.However, he added the outlook remained uncertain, pointing to the possibility of renewed government measures in the event of a second wave of infections.Airtel Africa’s fiscal Q1 2021 (the quarter to end-June) revenue was up 7 per cent year-on-year to $851 million. Although operating profit was up 13 per cent, its net profit dropped almost 57 per cent to $57 million, attributed to one-off items inflating its figures in the comparable period of 2019, mostly related to the IPO process.“These results are further evidence of the growth opportunities our markets offer and the effectiveness of our strategy to focus on winning customers, investing in our network and expanding our voice, data and mobile money businesses,” Mandava added. Subscribe to our daily newsletter Back Tags Home Airtel Africa cautiously optimistic as trends improve Chris Donkin Airtel AfricaQ2 earningslast_img


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