Airtel Africa After Tax Profit Down to $2 Million

Airtel Africa Plc has announced its financial results for the nine-month period ending December 31, 2023.

The group reported an after-tax profit of $2 million in 2023, marking a 99.6% year-on-year decrease from the $523 million recorded during the same period in the preceding fiscal year.

The downturn is linked to the total finance cost of $1.238 billion that the company incurred.

The group registered a revenue of $3.861 billion, indicating a 1.4% year-on-year drop from the $3.914 billion recorded during the same period in the previous fiscal year.

It also declared an operating profit of $1.293 billion, a decrease of 1.9% from the $1.318 billion reported in 9M 2023.

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