Airtel Africa, a subsidiary of India’s Bharti-Airtel, has continued to surpass its profit and revenue margins recorded in previous quarters.

The telco’s revenue in Q3 2021 stood at $1.160 billion, a 22.7% increase from Q3 2020s $965 million,, without considering currency fluctuations (constant currency). When we consider currency fluctuations (reported currency), the increase is  20.1%, a 2.6% difference.

chart 1

Airtel’s Q3 2021 revenue breakdown. (in millions)

Voice brought in the most revenue at $578 million, while data and mobile money brought in $377 and $135 million, respectively.

Voice only rose by 11.6pc — $60 million — (reported currency) from Q3 2020s $518 million. Data went from $283 million to $377 million within the same period, signifying a 33.0pc — $94 million — increase.

Mobile money increased by 34.6pc, going from $100 million to $135 million in the same period.

The same trend was recorded in Q2 2021. Voice trumped other revenue sources at $562 million, followed by data and mobile money with $356 and $124 million, respectively.

Airtel’s data subscribers increased to 43.9 million, a 10.9pc jump from 39.6 million in Q3 2020.

The mobile money customer base experienced a 19pc increase, rising from 20.1 million to 23.9 million when comparing Q3 2020 and Q3 2021.

Generally, Airtel has increased its customer base by 5.4pc — 116.4 million to 122.7 million — in the 14 African countries where it is present.

Airtel’s profit before tax in the period in question was $308 million, an 81pc increase from $170 million in the same quarter last year.

Profit after tax, on the other hand, was $192 million, which is an impressive 118.6pc increase from last year’s $88 million.

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However, the year-on-year (YoY) growth rate falls short compared to Q2 2021’s 148.7pc. Its YoY revenue growth rate of 22.7pc also pales in comparison to last quarter’s 33.1pc, figures it still attributes to the COVID-19 restrictions of 2020.

It says it is due to “a weakened performance in the first quarter of the prior year during the peak period of Covid-19 related restrictions across the region.”

chart 2

Airtel’s Q3 2021 revenue per region

*Airtel’s East African countries include Kenya, Malawi, Rwanda, Tanzania, Uganda, and Zambia.

**Airtel’s Francophone contingent includes Niger, Chad, Gabon, the Democratic Republic of the Congo, the Republic of the Congo, Madagascar, and Seychelles.

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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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