Airtel Africa Plc has recorded strong profitability for the financial year ended March 31, 2026, with pretax profit rising 114.67% year-on-year to $1.41 billion.
This performance was supported by revenue growth to $6.4 billion from $4.9 billion, driven mainly by data revenue of $2.5 billion and voice revenue of $2.3 billion.
In addition, mobile money contributed $1.08 billion to revenue, while other business segments accounted for the remaining share of the company’s topline performance.
This was supported by an expanding customer base, which grew by 10.5% to 183.5 million, with data customers rising to 84.2 million as smartphone penetration improved by 4.7% to 49.5%.
Commenting on the performance, Sunil Taldar, Chief Executive Officer, said, “Adoption of new digital technologies and AI has been pivotal in unlocking growth opportunities and driving efficiencies” across operations.
Key highlights (Q1 2026 vs Q1 2025)
- Revenue: $6.4 billion, up 29.47% YoY
- Expenses: $4.3 billion, up 22.93% YoY
- Operating profit: $2.1 billion, up 45.16% YoY
- Pretax profit: $1.4 billion, up 114.67% YoY
- Post-tax profit: $813 million, up 147.87% YoY
- Total assets: $13.9 billion, up 16.14% YoY
- Reserves and surplus: $1.3 billion vs $651 million
Driving the numbers
A closer look at the topline shows full-year revenue of $6.4 billion, with East Africa mobile services contributing the largest share at $2.1 billion.
- Nigeria mobile services followed with $1.59 billion, outperforming Francophone Africa mobile services, which generated $1.54 billion.
- Mobile money accounted for the remaining $1.08 billion, rounding off the group’s diversified revenue streams.
Among key revenue drivers, data sales rose to $2.5 billion from $1.8 billion, with East Africa contributing $930 million, Nigeria $820 million, and Francophone Africa $780 million, reflecting its growing importance in the business mix.
- According to the company, data demand remained robust, with average usage per customer increasing to 8.9 GB monthly from 7.0 GB previously.
Voice revenue also strengthened to $2.3 billion from $1.9 billion, supported by East Africa at $1.06 billion, Francophone Africa at $638 million, and Nigeria at $613 million.
- Mobile money continued its upward trajectory, rising to $1.08 billion from $770 million in the previous year, reflecting deeper financial inclusion.
After these revenue segments were reported, total expenses of $4.3 billion were accounted for, including network operating costs of $1.1 billion and depreciation of $1.04 billion, resulting in operating profit of $2.1 billion, up 45.16% year-on-year.
Down the line, pretax profit stood at $1.4 billion after net foreign exchange losses of $149 million, hyperinflationary losses of $17 million, and other expenses.
Post-tax profit then settled at $813 million from $328 million after income tax of $606 million, while earnings per share increased to 18.6 cents from 6.0 cents, reflecting the group’s improved bottom-line performance.
Balance sheet
On the balance sheet, Airtel Africa’s total assets rose to $13.9 billion from $12.02 billion in the previous year, reflecting steady expansion in its asset base.
- Right-of-use assets formed the largest portion of non-current assets at $3.5 billion, followed by goodwill at $3.2 billion and property, plant and equipment at $2.4 billion.
- Mobile money trust balances also remained significant, standing at $1.3 billion, highlighting continued growth in its fintech operations.
On the liabilities side, total obligations increased to $10.4 billion from $9.2 billion, with non-current lease liabilities of $3.8 billion representing the largest component.
Total equity grew to $3.4 billion, up from $2.7 billion, with reserves and surplus at $1.3 billion.
Commentary:
According to Sunil Taldar, the company delivered strong operating and financial performance, supported by rising customer additions, revenue growth, and wider adoption of digital technologies and AI-driven services.
- Taldar said, “Smartphone customers increased by 22% to 91 million, driving an almost 50% increase in data traffic and, together with another strong Airtel Money performance, supported a step-up in constant-currency revenue growth to 24.0%.”
He added that although rising energy costs may pressure margins in the near term, the company remains focused on cost efficiency, strategic investments, and expanding digital and financial inclusion across its markets.
Market reaction:
Shares of the company have risen by 46% on the Nigerian Exchange ahead of market open on May 8, 2026.
The stock is priced at N3,323 on the exchange, with a total of 538 million shares traded so far.
