Airtel has announced that it generated total revenue of $422 million in Nigeria for Q1 2021,representing a 23.9% rise from $377 million in the first quarter of last year.
The development makes the company the telecom giant’s biggest market for the period in question,a report said.
Airtel recorded more revenue in Nigeria than in the East African countries where it operates. In East Africa, Airtel is present in Kenya, Malawi, Rwanda, Tanzania, Uganda, and Zambia.
Airtel recorded an increase in its data and mobile money subscribers between the first quarter of 2021.
Airtel records massive profit in Q1 2021 and 6.9% subscriber growth .Comparing revenue from the first quarter of 2020 to that of this year, Airtel saw a massive increase in profit by 21.7%.
But,a constant currency change puts the revenue growth at 15.4%. The telco saw a profit of $1.03 billion, while that of 2020 was $899 million.
The report showed that voice still raked in the highest profit of $547 million, 12.8% (constant currency) more than last year’s.
Data and mobile money recorded increases of 31.7% and 38.7% from Q1 of 2020, respectively.
In terms of subscribers, Airtel’s customers grew by a 6.9% growth from Q1 2020. Its total subscriber base grew from $110.6 million in Q1 2020 to $118.2 million in Q1 2021.
The increase in data subscribers led to a rise in revenue. Airtel increased its data subscribers by 14.5%, putting the number of data subscribers at 40.6 million, 5.2 million more than 3.4 million in Q1 2020.
Airtel’s Mobile Money accounted for $110 million in revenue, the least profit. However, it is higher than the $83 million of Q1 2020. The mobile money customer base also increased from 18.3 million in Q1 2020 to 21.7 million in Q1 2021, an 18.5% increase.
313300cookie-checkAirtel Nigeria Records $422m Revenue In Q1
