Airtel Africa - Healthy Performance In Nigeria, Francophone Africa Drives Q3 Growth: Motilal Oswal
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Motilal Oswal Report
Airtel Africa reported revenue/Ebitda increased 9.3%/18.4% QoQ to $1,055 million/$553 million, along with a 360 basis point improvement in margin to 47.6%.
In constant currency, revenue/Ebitda rose 7.8%/11.7% QoQ to $1,038 million/$487 million (in line).
Ebitda margin improved 160 basis point QoQ to 46.9%. This was led by QoQ average revenue per user growth of 3.6% to $2.9 (versus $2.8 in Q2 FY21) and an increase in the subscriber base by 2.2% to 118.9 million (versus 116.4 million in Q2 FY21).
Reported profit after tax was up 31.8% QoQ to $116 million.
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