Friday, 12 May 2017

AIRTEL FINALLY TURN TO PROFIT - CHEERING NEWS FOR ALL AIRTEL USERS

 



 
Airtel operations has finally turned profitable in Africa for the first time! Airtel currently have presence in Nigeria and other African countries like Chad, Congo B, Democratic Republic of Congo, Gabon, Madagascar, Niger, Ghana, Kenya, Malawi, Seychelles, Tanzania, Uganda, Zambia, and Rwanda.

Read More!!!

According to Raghunath Mandava, chief operating officer of Airtel Africa:
“Our efforts to deliver a profitable business model for Africa have resulted in EBITDA growth of 36.0% with margin expanding by +500 basis points on an underlying basis in FY 16-17. For the first time ever, African operation has delivered positive PBT (profit before tax) in the financial year (constant currency).”

In layman term, Airtel in the last earnings report disclosed a $6 million profit before tax from all its operations in the continent. It is major achievement to see the telco becoming profitable. Definitely more fund will be available for investment and other.

The turnaround is largely due to the increase in the data customer base and consumption.
Note: Airtel has a 22.8% market share in Nigeria with 34,656,605 million subscribers.

No comments:
Write comments