Airtel Africa Q3 net profit jumps 14% to $103 million

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Airtel Africa, a subsidiary of Indian telecommunications major Airtel, posted a 14.4 percent jump in its Q3 net profit at $103 million against $90 million in the quarter ended September 2019.

The company’s revenue was up 4.6 percent at $883 million against $844 million, QoQ.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 7.3 percent at $399 million against $372 million, while EBITDA margin was up 110 bps at 45.2 percent versus 44.1 percent, QoQ.

The company’s net debt stood at $3,233 million as of December 2019 against $4,189 million in the year-ago period.

At 1242 hours, Bharti Airtel was quoting at Rs 498.25, down Rs 16.05, or 3.12 percent, on the BSE.