Q4 Rs 581 crore profit for Airtel Africa
Bharti Airtel’s Africa subsidiary has posted a net profit ...
Bharti Airtel’s Africa subsidiary has posted a net profit of $83 million (around Rs 581 crore at Rs 70 a dollar exchange) for the March-end quarter, compared with a net loss of $49 million a year ago, boosted by a surge in data consumption and a rise in the volume of transaction value on the Airtel Money platform.
But the net income has fallen substantially and sequentially from $123 million in the December quarter. The Sunil Mittal company said this was due to an exceptional loss of $7 million, “mainly on account network modernisation across various OPCOs (operating companies),” the quarterly earnings report of the company said. The total revenue for Airtel Africa rose 6 percent on-year to $781 million, though it fell from $783 million sequentially.