Airtel Africa Profit Jumps 147% to $813 Million as Revenue Crosses $6.4 Billion

Airtel Africa Plc reported strong full-year earnings for the financial year ended March 31, 2026 as profit after tax surged by 147.4 percent to $813 million, supported by robust revenue growth, improved operating margins and foreign exchange gains.

The telecommunications and mobile money giant said revenue rose by 29.5 percent in reported currency to $6.42 billion while constant currency revenue increased by 24 percent during the period under review.

The company attributed the strong performance to sustained customer growth, rising smartphone penetration, expanding data consumption and continued growth in Airtel Money operations across its 14 African markets.

Customer base increased by 10.5 percent to 183.5 million subscribers while data customers climbed by 14.8 percent to 84.2 million users.

Smartphone penetration rose to 49.5 percent from 44.8 percent in the previous year as data usage per customer increased to 8.9GB monthly from 7GB previously.

Data revenue, now the largest contributor to group revenue, jumped by 40.3 percent in reported currency to $2.53 billion while mobile money revenue climbed 36.3 percent to $1.36 billion.

Airtel Money customer base expanded by 21.3 percent to 54.1 million users as annualised total processed value exceeded $215 billion in the fourth quarter of the financial year.

Underlying EBITDA rose by 37.2 percent to $3.16 billion while EBITDA margin improved to 49.3 percent from 46.5 percent recorded in the previous financial year.

Operating profit increased by 45.1 percent to $2.12 billion.

Basic earnings per share improved significantly to 18.6 cents compared to 6 cents reported a year earlier.

The company also strengthened its balance sheet during the year as leverage declined from 2.3x to 1.8x while lease-adjusted leverage improved to 0.5x from 1x.

Capex increased by 31.9 percent to $884 million following continued investment in network expansion and digital infrastructure.

During the year, Airtel Africa rolled out more than 3,250 new sites and expanded its fibre network by approximately 3,200 kilometres to 81,900 kilometres.

The board recommended a final dividend of 4.26 cents per share, bringing total dividend for the full financial year to 7.1 cents per share, representing a 9.2 percent increase from the previous year.

Chief Executive Officer Sunil Taldar said the company delivered standout growth across operating and financial metrics due to strong execution, digital transformation and favorable industry fundamentals.

He added that Airtel Africa remains committed to pursuing the Airtel Money IPO in the second half of 2026 subject to market conditions.

In Nigeria, Airtel recorded particularly strong growth as revenue rose by 52.9 percent to $1.60 billion while underlying EBITDA jumped 77 percent to $922 million.

Data revenue in Nigeria surged by 69.8 percent while EBITDA margin improved sharply to 57.5 percent from 49.7 percent previously.

The company also announced plans to increase capex guidance for the 2027 financial year to approximately $1.1 billion as it accelerates investment in network coverage, home broadband, enterprise services and data centre expansion across Africa.

Airtel Africa said ongoing investments in 4G, 5G, fibre infrastructure, digital services and financial inclusion will continue to position the company for long-term growth across its operating markets.