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HomeEconomySafaricom’s revenue up by 4.8% to Ksh.251.2 billion

Safaricom’s revenue up by 4.8% to Ksh.251.2 billion

Safaricom’s revenue up by 4.8% to Ksh251.2 billion

Safaricom revenue grew by 4.8 percent to KSh251.2 billion for the year ended March 31, 2020 compared to Ksh.239.8 billion in 2019.

Its earning before tax grew by 13 percent to Sh101 billion compared to Ksh89 billion the previous year.

The telco’s growth in revenue has been attributed to the impeccable performance of mobile money transfer service M-Pesa and mobile data services.

M-Pesa now accounts for 33.6 percent of safaricom’s total revenue recording Ksh11.9 billion having grown by 17.2 percentage points.

M-Pesa revenue grew by 12.6 per cent to Ksh84.44 billion while voice service (incoming and outgoing) revenue dropped 1.4 per cent to Sh94.45 billion during the period under review.

“Revenue growth for the year was driven by a strong performance on M-Pesa and a strong performance on mobile data,” said Safaricom’s Chief Financial Officer Sateesh Kamath.

Earnings before interest and tax (EBIT) rose to a record of Ksh.101.5 billion from Ksh.89 billion last year.

However, the telco says it will focus on growing more uses for its mobile money services along with deepening its penetration of data as internet usage registers a spike from mass usage during the pandemic.

The board has recommended a Ksh.1.40 dividend pay out to shareholders up from Ksh.1.25 last year from earnings per share (EPS) of Ksh.1.84.

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