Motilal Oswal: Airtel Africa Q2 Review - Healthy Performance On All Fronts; Capex Guidance For FY21 Remains Intact
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Motilal Oswal Report
Airtel Africa reported revenue and Ebitda increased 13% and 15% QoQ to $965 million and $424 million respectively along with 70 basis point margin improvement to 43.9%.
On constant currency basis, revenue and Ebitda increased 12.5% and 15.6% QoQ to $963 million and $436 million (10% beat).
Ebitda margins were up 120 basis point QoQ to 45.3%. The high growth could be partly attributed to the lower base in Q1 FY21 due to Covid-19 lockdowns.
Yet, compared to Q4 FY20, reported revenue and Ebitda grew 7% and 8%.
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