Airtel Africa reports 24% profit jump

Mumbai: Airtel Africa said net profit jumped 24% year-on-year to $210 million in the quarter to December, largely on margin expansion. The company had reported a net profit of $169 million in the year-ago quarter. Revenue rose 33% on-year in reported currency terms to $1,685 million as compared with $1,268 million in the year-ago period."Disciplined execution on cost efficiency, alongside accelerating revenue growth, has enabled another sequential improvement in our quarterly EBITDA margin to 49.6%, underpinning constant currency EBITDA growth of 31%," Airtel Africa CEO Sunil Taldar said, adding "we remain focussed on driving further incremental margin improvements".The company continued its $100 million share buyback programme, completing the first $45 million tranche in April 2025 and returning $36.2 million through 14.6 million shares purchased in the second tranche as of December 31, 2025. Company statements said revised arrangements now include irrevocable instructions to Barclays for autonomous execution during closed periods. Airtel Africa's net finance cost fell 7% year-on-year to $202 million in Q3."Higher profit after tax in the current period was driven by higher operating profit and derivative and foreign exchange gains of $99 million, as compared to $153 million derivative and foreign exchange losses in the prior period," the company said in a statement.

from Economic Times https://ift.tt/mCRhLXz