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New Delhi, <keyword id="363206" type="General" weightage="20" keywordseo="airtel-africa" source="Orion">Airtel Africa</keyword> on Thursday reported a loss of USD 151 million (about Rs 1,237 crore) for June quarter 2023-24. In the year-ago period, it logged a profit of USD 178 million, a company statement said. Revenue in constant currency terms grew 20.4 per cent year-on-year to USD 1,377 million in the first quarter of the current fiscal, it said. "Despite the strong operating performance, our results have been impacted by foreign exchange headwinds. This quarter saw the announcement of the change to the forex market in Nigeria, which resulted in a significant naira devaluation," Airtel Africa Chief Executive Officer Olusegun Ogunsanya said. She added that the company has "welcomed this reform as very positive" for the medium and long-term development of their business in Nigeria, calling it their "largest market". Airtel Africa's mobile services revenue in April-June period grew 19 per cent in constant currency terms, driven by 12 per cent rise in revenue from voice calls and data revenue growth of 30 per cent, the company stated. Capital expenditure for the company was flat at USD 140 million as compared to the year-ago period as it "continued to invest for future growth", it added.

Airtel Africa reports $151 million loss in Q1 2023-24

<keyword id="19906064" type="General" weightage="20" keywordseo="Hardik-Pandya" source="keywords">Hardik Pandya</keyword> believes in leading his life with a lot of grace and he has no issues with people who don't know him one percent but said a lot about him in the middle of his disappointing campaign as <keyword id="19918778" type="General" weightage="20" keywordseo="Mumbai-Indians" source="keywords" meta.keywordsubtype="org" meta.entityname="Mumbai Indians" meta.hostid="261" meta.entityid="Mumbai Indians">Mumbai Indians</keyword> captain in the <keyword id="19906063" type="General" weightage="20" keywordseo="IPL" source="keywords">IPL</keyword>. Having replaced Rohit Sharma as Mumbai Indians captain, Hardik was a subject of ridicule and was booed by fans of his own team in the IPL. Mumbai could not qualify for the play-offs and his own performance as captain and player was also questioned. However, he silenced his critics with an all-round show in the <keyword id="19921630" type="General" weightage="20" keywordseo="T20-World-Cup" source="keywords" meta.keywordsubtype="org" meta.entityname="T20 World Cup" meta.hostid="261" meta.entityid="T20 World Cup">T20 World Cup</keyword>. "I believe in grace. A lot was said by people who don't know even know me one percent as a person. People have spoken, no issues but I have always believed in life that you never respond with words, circumstances can respond. "Even difficult times, they don't last forever. It is important to be graceful, whether you win or lose. "It is time for fans and everyone else to learn that (to be graceful). We need to find better ways to conduct yourself. I am sure the same people will be happy," said Hardik after the T20 World Cup final victory over <keyword id="19899437" type="General" weightage="20" keywordseo="South-Africa" source="keywords" meta.keywordsubtype="org" meta.entityname="South Africa" meta.hostid="261" meta.entityid="South Africa">South Africa</keyword> here on Saturday. Hardik defended 16 runs in the final to ensure a famous win for his team. "To be honest, I was enjoying. Very few get these life changing opportunities. It could have gone the other way as well today but I see it glass half full and not glass half empty. "I was not taking pressure and focussing on my skill sets. This was a moment written in the stars," he said when asked about the high pressure scenario. Hardik is expected to captain India in the shortest format following Rohit's retirement. The next T20 World Cup is in India in 2026 but he is not looking too far ahead. "2026 is a long time away. Very happy for Rohit and Virat. Very special two giants of Indian cricket who thoroughly deserved this. "Been amazing playing this format with them. We will miss them but this is the best farewell they could get. Happy for them to end like this," added the star all-rounder. SEE ALSO:<a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank">Upcoming cars launching in India in July 2024</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a>

A lot was said by people who don't even know me one percent: Hardik Pandya

<keyword id="363206" type="General" weightage="20" keywordseo="Airtel-Africa" source="Orion">Airtel Africa</keyword> has reported a revenue growth of 20.6 per cent for the year FY22, to $4,714 million, and 17.8 per cent for Q4FY22. <keyword id="15491" type="General" weightage="20" keywordseo="Airtel" source="Orion">Airtel</keyword> Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries primarily in East Africa and Central and West Africa. Constant currency underlying revenue grew 23.3 per cent for the year and 19.1 per cent in Q4. Constant currency underlying revenue growth was strong in all regions -- Nigeria up 27.7 per cent, East Africa up 22.7 per cent and Francophone Africa up 17.2 per cent and across all key services, with revenue in voice up 15.4 per cent, Data up 34.6 per cent and Mobile Money up 34.9 per cent. Further, profit after tax grew by 82.0 per cent to $755 million. The Board recommended a final dividend of 3 cents per share, making total dividends at 5 cents per share for the entire fiscal. Segun Ogunsanya, Airtel Africa Chief Executive Officer, said: "This is another strong set of results for Airtel Africa, demonstrating our solid execution as we continue to enrich the lives of a growing number of people through leveraging the sizeable opportunity to promote digital and financial inclusion across our markets." The company has delivered strong double-digit growth in revenues across all our regions and all our key services, with improving margins driven by strong cost control, and expanding cash generation which is enabling it to continue to invest in it's network and services and expand distribution, as well as strengthening balance sheet and increasing returns to shareholders. "We are connecting more customers in new and existing coverage areas and driving usage levels and ARPUs to new highs. We have successfully executed on a number of strategic initiatives in the year, with tower sales completed in four countries, $550m of minority investments secured for our mobile money business and a successful buyout of minorities in our Nigerian operation." SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-results-q4-fy22-profit-revenue-subscriber-growth/articleshow/91374478.cms">Reliance Jio reports its strongest profit growth in five quarters as it offloads millions of low quality subscribers</a> <a href="https://www.businessinsider.in/stock-market/news/foreign-investors-have-pulled-out-1-5-lakh-crore-from-the-indian-markets-in-2022-so-far-heres-why/articleshow/91485411.cms">Foreign investors have pulled out ₹1.5 lakh crore from the Indian markets in 2022 so far — here's why</a> <a href="https://www.businessinsider.in/business/telecom/news/what-is-the-impact-of-new-vpn-guidelines-on-users-and-vpn-providers/articleshow/91468069.cms">Indian government's VPN guidelines will impact over 270 million users as VPN providers have no option but to leave the country</a>

Airtel Africa posts double-digit revenue growth and 82% surge in net profit on the back strong cost control and increased usage levels

<keyword id="363206" type="LOCATION" weightage="20" keywordseo="Airtel-Africa">Airtel Africa</keyword> on Wednesday announced the <keyword id="6371194" type="UNKNOWN" weightage="20" keywordseo="sale">sale</keyword> of the <keyword id="11367710" type="UNKNOWN" weightage="20" keywordseo="tower-portfolio">tower portfolio</keyword> belonging to <keyword id="2297078" type="LOCATION" weightage="20" keywordseo="Airtel-Tanzania">Airtel Tanzania</keyword> to a joint venture company of SBA Communications Corporation and Paradigm Infrastructure for $175 million. SBA Communications Corporation is a global independent owner and operator of wireless communications infrastructure while paradigm infrastructure is a UK company focused on developing, owning and operating shared passive wireless infrastructure in selected growth markets. The tower portfolio in Airtel Tanzania comprises around 1,400 towers which form part of the Group's wireless <keyword id="67974" type="ORGANIZATION" weightage="20" keywordseo="telecommunications">telecommunications</keyword> infrastructure network. Under the terms of the transaction, the Group's subsidiary Airtel Tanzania plc will continue to develop, maintain and operate its equipment on the towers under a separate lease arrangement with the purchaser, said a company statement It added that the transaction is the latest strategic divestment of the Group's tower portfolio as it focusses on an asset-light business model and on its core subscriber-facing operations. Out of the total consideration of $175 million for the transaction, around $157.5 million is payable on the first closing date, which is expected to take place in the second half of the Group's current financial year, with the balance payable in installments upon the completion of the transfer of any remaining towers to the purchaser. "Around $60m from the proceeds will be used to invest in network and sales infrastructure in Tanzania and for distribution to the Government of Tanzania, as per the settlement described in the Airtel Africa IPO Prospectus document published in June 2019," it said. The balance of the proceeds will be used to reduce debt at group level, said the company. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/oneplus-cryptocurrency-wallet-could-be-in-the-works-company-survey-suggests/articleshow/83164929.cms">OnePlus cryptocurrency wallet could be in the works, company survey suggests</a> <a href="https://www.businessinsider.in/careers/news/microsoft-airtel-tiktok-just-dial-byjus-and-other-companies-are-calling-out-interns-for-different-roles/articleshow/83168022.cms">Microsoft, Airtel, BYJU’S, IIT-Bombay and more — here is a list of companies looking for interns</a> <a href="https://www.businessinsider.in/tech/mobile/news/upcoming-new-smartphones-launching-in-india-in-june-2021/slidelist/83169331.cms">Smartphones launching in India in June 2021</a>

Airtel Africa to sell Tanzania's tower portfolio to SBA Communications Corporation and Paradigm Infrastructure for $175 million

<ul><li><keyword id="6354287" type="General" weightage="20" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword> launched India’s first multiplex on the Partynite Metaverse platform.</li><li>The 20-screen multiplex will showcase content portfolios from leading OTT platforms partners.</li><li><keyword id="15491" type="General" weightage="20" keywordseo="airtel" source="Orion">Airtel</keyword>’s latest metaverse multiplex will enable viewers to watch samples of top original shows and movies.</li></ul>One of the biggest telecom companies in India, Bharti Airtel, entered the multiplex business but in the metaverse. The company on Tuesday (June 17) launched India’s first multiplex on the Partynite Metaverse platform. The 20-screen multiplex — which is a part of Airtel’s video app Xtream — will showcase content portfolios from leading over-the-top (OTT) platforms it has partnered with. A quick scan of the website reveals that Airtel Xstream offers content from OTT platforms like Amazon Prime, Sony Liv and Eros Now. The Xstream multiplex is an extension of Airtel’s Xstream Premium offering, which added two million subscribers within 100 days of its launch. “Airtel’s Xstream multiplex provides a larger-than-life experience, which brings together Web 3.0 apps and immersive storytelling, and an assortment of content from our partners. We all know people’s love for movies and entertainment in India. Through the metaverse, we are looking to tap into a larger audience, giving content enthusiasts an opportunity to sample Airtel’s Xstream Premium offering and, thus, aiding in driving higher adoption,” Shashwat Sharma, director of marketing at Airtel, said in a statement. Airtel’s latest metaverse multiplex will enable viewers to watch samples — such as the first episode or initial minutes — of top original shows and movies. These shows or movies will be in multiple regional languages, besides English and Hindi. Viewers can get complete access upon subscription of a plan, the company added. Airtel Xstream Premium’s multiplex experience is one of the most scalable use case scenarios for the metaverse and can be used for movies, music, live events and premium sports streaming in the future, Partynite’s founder Rajat Ojha said. “Apart from the robust scope, it will also allow social engagement, open up newer methods of content delivery and, of course, provide an immersive experience at the core of it,” he added. Airtel is a global communications solutions provider with over 490 million customers across 17 countries across South Asia and Africa. The company<a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-vs-bharti-airtel-four-charts-to-showcase-how-indian-telecom-giants-faired-in-2022/slidelist/91640306.cms#slideid=91640359"> earned ₹1.17 lakh crore</a> across its several businesses in the fiscal year 2022, while its profits lingered at ₹8,305 crore. Bharti Airtel’s shares were trading at a price of ₹681 at 1:06 pm on Tuesday, representing a slight spike of 1.47% since market opening. SEE ALSO <a href="https://www.businessinsider.in/business/news/adani-sells-a-fourth-of-its-green-hydrogen-business-to-frances-totalenergies/articleshow/92197541.cms" style="">Adani sells a fourth of its green hydrogen business to France’s TotalEnergies</a> <a href="https://www.businessinsider.in/stock-market/news/burger-king-dominos-kfc-to-see-high-growth-even-as-consumer-staples-suffer/articleshow/92196523.cms" style="">Burger King, Domino's &amp; KFC to see high growth even as consumer staples suffer</a> <a href="https://www.businessinsider.in/india/news/indias-richest-people-are-moving-to-uae-australia-and-singapore/articleshow/92181712.cms" style="">India’s richest are moving to UAE, Australia and Singapore — but there’s nothing to worry</a>

Airtel launches its first multiplex, but in the metaverse

<keyword id="363206" type="COMPANY" weightage="20" keywordseo="Airtel-Africa">Airtel Africa</keyword> on Friday reported a fall of 8.8 per cent in its net profit on a year on year (YoY) basis at $88 million for the quarter ended September. The company's revenue for the period under review was $965 million compared with $844 million earned during the July-September quarter of the last financial year. In a statement, the company said that its <keyword id="445843" type="PERSON" weightage="20" keywordseo="customer-base">customer base</keyword> grew by 12.0 per cent to $116.4 million during the quarter. <keyword id="702372" type="PERSON" weightage="20" keywordseo="Raghunath-Mandava">Raghunath Mandava</keyword>, CEO of <keyword id="15491" type="DOMAIN" weightage="20" keywordseo="Airtel">Airtel</keyword> Africa, said: "The first half of our fiscal year included the peak impact of the COVID-19 pandemic in the countries where we operate in, as <keyword id="8960115" type="UNKNOWN" weightage="20" keywordseo="lockdown-measures">lockdown measures</keyword> were swiftly implemented to stem the initial spread of the contagion." He noted that in these unprecedented times, the telecom industry has emerged as a key and essential service for these economies, allowing customers to work remotely, reduce their travels, keep them connected, and allow access to affordable entertainment. "In these exceptional circumstances, in the first half, we delivered a strong set of results and as lockdown restrictions eased during Q2 our performance continued to improve with constant currency revenue growth of 19.6 per cent, up 6.6 per cent from the prior quarter," the CEO said. SEE ALSO: <a href="https://www.businessinsider.in/india/news/trump-calls-india-china-and-russia-filthy-while-justifying-exit-from-paris-agreement/articleshow/78821267.cms" data-type="tilCustomLink">Trump calls India, China and Russia ‘filthy’ while justifying exit from Paris Agreement</a> <a href="https://www.businessinsider.in/science/health/news/gileads-remdesivir-just-got-the-first-fda-approval-to-be-used-as-a-treatment-for-coronavirus-patients/articleshow/78818920.cms" data-type="tilCustomLink">Gilead's remdesivir just got the first FDA approval to be used as a treatment for coronavirus patients</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-cipla-zydus-cadila-dr-reddy-laboratories-tech-mahindra-avenue-supermarts-cochin-shipyard-and-others/articleshow/78820314.cms" data-type="tilCustomLink">Top stocks to watch — Cipla, Zydus Cadila, Dr Reddy Laboratories, Tech Mahindra, Avenue Supermarts, Cochin Shipyard, and others</a>

Airtel Africa Q2 net profit slumps 9% amid coronavirus woes

Telecom operator <keyword id="6354287" type="General" weightage="20" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword>'s consolidated net profit fell 2.8 per cent during Q3FY22 to Rs 830 crore on a year-on-year basis. In the same quarter of the previous fiscal, the consolidated net profit of the company stood at Rs 854 crore. On the other hand, the total revenues during Q3FY22 grew 12.6 per cent to Rs 29,867 crore, as against Rs 26,518 crore in the same quarter last fiscal. Besides, EBITDA grew 22.4 per cent to Rs 14,905 crore, against Rs 12,178 crore reported in the same quarter last fiscal. "We have delivered another quarter of sustained performance across all our business segments... The recent tariff revision for mobile services has gone down well and we are exiting the quarter with an industry leading ARPU of Rs 163," said Gopal Vittal, MD and CEO, India and South Asia in a statement. The full impact of the revised mobile tariffs, however, will be visible in the fourth quarter, he said. "Our Enterprise, Homes and Africa business continue to deliver strongly, with steady increase in contribution to the overall mix of the portfolio. Our balance sheet is robust and we are now generating healthy free cash flows. This has enabled us to recently prepay some of our spectrum liabilities to the government thereby reducing the interest burden." Furthermore, Google's recent investment in the company is a strong validation of <keyword id="15491" type="General" weightage="100" keywordseo="airtel" source="Orion">Airtel</keyword>'s role in being a leading pioneer of India's digital revolution, the statement said. "Our emerging digital services portfolio across Airtel IQ, AdTech, digital market place, Nxtra and digital banking positions us well to build an Airtel of the future," he added. Headquartered in India, Airtel is a global communications solutions provider with over 480 million customers in 17 countries across South Asia and Africa. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/jio-laptop-inches-closer-to-launch-could-be-powered-by-windows-10-and-an-arm-processor/articleshow/89400900.cms">Jio laptop inches closer to launch, could be powered by Windows 10 and an ARM processor</a> <a href="https://www.businessinsider.in/business/telecom/news/30-day-monthly-recharge-plans-for-prepaid-users-now-as-per-trai/articleshow/89173110.cms">Prepaid mobile users may get to do one less recharge a year, but savings are not assured</a>

Bharti Airtel reports 12.6% increase in revenue, ARPU up by 6.5%

New Delhi, May 20 () UNICEF has entered into a partnership with Airtel Africa to provide children with access to remote learning and enable access to cash assistance for their families via mobile cash transfers amid the coronavirus pandemic, the telecom company said on Wednesday. Airtel Africa will 'zero-rate' select websites hosting educational content, which will provide children with remote access to digital content at no cost. Under this pact, UNICEF and Airtel Africa will use mobile technology to benefit an estimated 133 million children currently affected by school closures in 13 countries across sub-Saharan Africa during the COVID-19 pandemic, Airtel Africa said in a statement. "UNICEF announced a new partnership with Airtel Africa aimed at providing children with access to remote learning and enable access to cash assistance for their families via mobile cash transfers," it said. The adverse effects of school closures on children's learning are well-documented, and experts warn that gains made in increasing access to learning in the previous decade are at risk of being lost, or even reversed completely. For poor households, the pandemic means a reduced or total loss of income due to the movement restrictions in place. "Remote learning, supported by digital tools, is a core part of UNICEF's response to ensure continuity of learning for those children with access to technology at home," the statement pointed out. The partnership will also provide UNICEF with a means to facilitate vital cash assistance to alleviate financial barriers for vulnerable families across the region, including many affected by the growing socio-economic hardships resulting from suspension of income earning activities, in the wake of the pandemic. This will help ensure families have additional resources to cope with the ongoing health and economic crisis due to the COVID-19 pandemic, it said. "COVID-19 is affecting access to information and education at an unprecedented scale," Fayaz King, UNICEF Deputy Executive Director for Field Results and Innovation, said adding that UNICEF is partnering with Airtel Africa to deliver better outcomes for children and families affected by widespread closures. The partnership aims to benefit children and families in 13 nations in sub-Saharan Africa. These include Chad, Congo, Democratic Republic of the Congo, Gabon, Kenya, Madagascar, Malawi, Niger, Nigeria, Rwanda, Tanzania, Uganda and Zambia. Airtel Africa Chief Executive Officer Raghunath Mandava said, "Some effective ways to cushion families from the effects of this crisis is through providing free Internet access to selected educational websites to help children keep up with their learning during the school closures and direct cash transfer programmes to reduce physical presence requirements for cash in hand exchanges." MBI HRS

UNICEF, Airtel Africa team up to support children, families affected by COVID-19

New Delhi, May 13 () Airtel Africa on Wednesday said it will continue to invest in network and spend its planned USD 650-700 million (about Rs 4,800-5,200 crore) of capital expenditure in FY21, in line with its guidance. The company, in its detailed quarterly report, said it has "also deferred the salary review for management and employees until there is more clarity on the COVID-19 impact". "We intend to continue to invest in our network and spend our planned USD 650 million to USD 700 million of capex in the next financial year, in line with our guidance," said the company with presence in 14 countries in Africa. In management discussion and analysis of Q4 and FY20 earnings, Airtel Africa said that a detailed analysis of its planned capex indicates that in a worst-case scenario, the company will be able to reduce it significantly without compromising network quality, by prioritising expenditure. Airtel Africa senior executives said the company has been consistently spending on expanding network and modernising sites. "The current pandemic may affect the timely deliveries of capital goods. Our capex deliveries are planned ahead of time, and as a policy we carry a deployable stock of network active equipment in our warehouses. "Currently we have around USD 280 million of capital work in progress and USD 250 million of capital commitments which are expected to be fulfilled, so we have enough deployable materials in our warehouse to ensure timely roll outs across our markets," the company said. It further said that the strategy of diversifying sourcing across four major providers is also protecting it from company or country specific supply chain risk. Airtel Africa said it has agreed to extend the maturity of USD 254 million short-term loans due to mature in December 2020 and January 2021 by an average of 18 months to two years, in a bid to further improve liquidity. The company has identified ways to conserve cash, reduce costs and mitigate risks from COVID-19, it said, adding review of operating expenses has been conducted, and discretionary spend has to a large extent stopped. "We have also deferred the salary review for management and employees until there is more clarity on the COVID-19 impact. This will be now reviewed by the Remuneration Committee in June and, if required, again in September," it said. MBI RVK

Expect to spend planned USD 650-700 mn capex in FY21: Airtel Africa

New Delhi, Jan 28 () Bharti Airtel's Africa unit, Airtel Africa, on Tuesday posted about 21 per cent fall in net profit for the third quarter ended December 2019 at USD 103 million (around Rs 735 crore).
 Airtel Africa said that the group's parent company has raised USD 3 billion in capital through a mix of of qualified institutional equity placement and convertible bond offerings.
 The firm also said that these activities have "reduced the level of uncertainty about the ability of the group's intermediate parent company to comply" with the recent Supreme Court judgement on statutory dues.
 "As a result, the directors have concluded that the previously highlighted material uncertainty around the group's ability to continue as a going concern no longer exists and that the group has adequate committed and non-committed facilities to operate as a going concern," it added.
 Airtel Africa's net profit for quarter ended December 2019 was 20.9 per cent lower in constant currency terms at USD 103 million on a year-on-year basis.
 However, the revenue for the quarter at USD 883 million was 14.2 per cent higher (on constant currency basis) and 12.8 per cent higher (on reported basis), helped by broad-based growth across voice, data and mobile money. 
 The difference between reported currency and constant currency growth rates is on account of currency movements.
 "Revenue increased by 9.9 per cent to USD 2,522 million for the nine-month period ended December 31, 2019, with Q3 FY20 revenue growth increasing to 12.8 per cent," the statement added.
 Growth was recorded across all services, with revenue in voice, data and mobile money up by 3.9 per cent, 39 per cent and 40.4 per cent, respectively, in constant currency.
 Airtel Africa CEO Raghunath Mandava said, "Revenue growth accelerated in Q3 to 14.2 per cent as a result of improved performance in the Rest of Africa, supported by solid results in Nigeria and East Africa. This is now the eighth consecutive quarter that we have delivered double digit revenue growth and EBITDA margin expansion in constant currency."
 In its financial review, the company noted that the total tax charge for the period was USD 170 million, as compared to a tax credit of USD 111 million in the same period last year, as a result of higher operating profit and withholding tax on dividends, as Airtel Nigeria - its largest and most profitable market - declared a first dividend.
 "In addition, the prior year period benefitted from one-off items which included deferred tax recognition in Nigeria of USD 170 million and a reversal of tax provision of USD 55 million," it said.
 The results come at a time when, back home, telecom companies owe the government Rs 92,642 crore in unpaid licence fee and another Rs 55,054 crore in outstanding spectrum usage charges.
 These liabilities arose after the Supreme Court in October last year held that non-core revenues have to be considered for calculating statutory dues. In the case of Bharti Airtel, the liabilities added up to nearly Rs 35,586 crore, of which Rs 21,682 crore is licence fee and another Rs 13,904.01 crore is the spectrum usage charge dues (not including the dues of Telenor and Tata Teleservices).
 Bharti Airtel, Vodafone Idea Ltd, and Tata Teleservices have, meanwhile, jointly filed a modification application in the Supreme Court asking for more time to pay the statutory dues. MBI MBI ANS
ANS

Airtel Africa Q3 net profit slumps nearly 21 per cent

<keyword id="747947" type="General" weightage="20" keywordseo="Telecom-major" source="Orion">Telecom major</keyword> <keyword id="117197" type="General" weightage="20" keywordseo="bharti-airtel-ltd" source="Orion">Bharti Airtel Ltd</keyword> has reported profit in the second quarter of current fiscal year on the back of stronger earnings from its mobile services in <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> and Africa. The company on Tuesday said that its net profit for the July-September quarter of FY22 stood at ₹1,134 crore, compared with a net loss of ₹763 crore in the same period of previous year. Profit from its mobile services in India more than doubled to ₹1,612.5 crore from ₹685 crore a year earlier, and profit from its mobile services in Africa increased 40 per cent to ₹2,809 crore. <keyword id="6354287" type="General" weightage="20" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword> reported consolidated Q2 revenues of ₹28,326 crore, a growth of 18.8 per cent YoY on a comparable basis and 13.0 per cent YoY on a reported basis largely on account of tariff hikes and increase in subscriber base. Consolidated mobile data traffic was at 10,943 PBs in the quarter with a healthy YoY growth of 47.8 per cent. India revenues for Q2 2022 also increased to ₹19,890 crore, up by 18.3 per cent YoY on a comparable basis, and 10.4 per cent YoY on a reported basis. Mobile revenues grew by 20.3 per cent YoY on comparable basis on account of increase in ARPU and strong 4G customer addition. ARPU for the quarter came in at ₹153 as compared to ₹143 in Q2 2021 on comparable basis, validating the strategy of focusing on quality customers. The company continues to gain a strong share of the 4G customers in the market. 4G data customers increased by 26.1 per cent YoY to 192.5 Mn. Over the last 4 quarters, the company has added 39.9 mn 4G customers to its network. ARPU continues to be the best in industry, average data usage per data customer at 18.6 GBs/month and voice usage per customer at 1,053 mins/month. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tesla-boss-elon-musks-net-worth-crosses-300-billion-for-the-first-time/slidelist/87485525.cms">Tesla boss Elon Musk’s net worth crosses $300 billion for the first time</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/former-sbi-chairman-pratip-chaudhuris-arrest-will-lead-to-policy-paralysis-say-experts/articleshow/87482347.cms">The arrest of former SBI chief Pratip Chaudhuri may prevent bankers from making any risky decisions, say experts</a>

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Airtel Africa reports $151 million loss in Q1 2023-24

PTI

A lot was said by people who don't even know me one percent: Hardik Pandya

PTI

Airtel Africa posts double-digit revenue growth and 82% surge in net profit on the back strong cost control and increased usage levels

IANS

Airtel Africa to sell Tanzania's tower portfolio to SBA Communications Corporation and Paradigm Infrastructure for $175 million

IANS

Airtel launches its first multiplex, but in the metaverse

Kritti Bhalla

Airtel Africa Q2 net profit slumps 9% amid coronavirus woes

IANS

Bharti Airtel reports 12.6% increase in revenue, ARPU up by 6.5%

IANS

UNICEF, Airtel Africa team up to support children, families affected by COVID-19

PTI

Expect to spend planned USD 650-700 mn capex in FY21: Airtel Africa

PTI

Airtel Africa Q3 net profit slumps nearly 21 per cent

PTI

Bharti Airtel records 13% rise in its profits in second quarter of the current fiscal year

IANS

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