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Airtel Africa posts $523 million profit for 9 month

Airtel Africa Plc has released its financial statements for the nine months ended 31st December 2022. 

The financial report shows that the telecommunication company recorded $523 million as profit for the period, marking a 12.1% increase from $514 million during the comparable period last year.

See more details of the financial report below. 


2022 9-mth: $3.914 billion 

2021 9-mth: $3.492 billion 

Change: +12.1% 


2022 9-mth: $2.007 billion  

2021 9-mth: $1.797 billion 

Change: +11.7% 


2022 9-mth: $1.916 billion  

2021 9-mth: $1.702 billion 

Change: +12.6% 

Operating profit 

2022 9-mth: $1.318 billion  

2021 9-mth: $1.146 billion 

Change: +15.1% 

Pre-tax profit 

2022 9-mth: $801 million 

2021 9-mth: $864 million 

Change: -7.3% 

Net Profit after tax  

2022 9-mth: $523 million 

2021 9 mth: $514 million 

Change: +1.7% 

Basic Earnings Per Share 

2022 9-mth: 12.5 cents 

2021 9-mth: 11.7 cents 

Change: +2.4% 

Bottom line: The growth in pre-tax profits was due to the increase in revenue from voice, data, mobile money and other revenue despite inflationary pressure and slim in the household wallets. According to the financial statement, revenue includes inter-segment eliminations of $112 million for the nine months ended 31 December 2022 and $94 million for the prior period. 

The telecom firm said revenue growth was impacted by the effect of some voice customers being barred in Nigeria and the loss of tower-sharing revenues following the sale of towers in Tanzania, Madagascar and Malawi in H2’22. 

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