Bharti Airtel’s Africa business, Airtel Africa, reported a more than two-fold increase in profit for FY26, helped by stronger operating performance, tariff revisions in Nigeria and foreign exchange gains. The telecom operator posted a profit after tax of USD 813 million (around Rs 7,700 crore) for the financial year ended March 2026, compared with USD 328 million in the previous fiscal.
The company, which has operations across 14 African markets, said higher profitability was supported by operating growth along with derivative and foreign exchange gains of USD 127 million. In FY25, the company had reported derivative and forex losses of USD 179 million.
“Higher profit after tax in the current period was driven by higher operating profit and derivative and foreign exchange gains of USD 127 million, compared to USD 179 million derivative and foreign exchange losses in the prior period,” the company said in the issued statement.
Airtel Africa also confirmed plans to list its mobile money business, Airtel Money, in the second half of 2026, subject to market conditions.
“Market conditions following recent geopolitical developments have affected the anticipated timing of the Airtel Money IPO. We have made good progress and remain committed to the listing as market conditions allow, with the intention of undertaking the IPO in the second half of 2026,” Airtel Africa CEO Sunil Taldar said.
Nigeria Tariff Hikes, Forex Gains
The company’s consolidated revenue rose 29.5 per cent year-on-year to USD 6.4 billion in FY26 from USD 4.9 billion in FY25. On a constant currency basis, revenue growth stood at 24 per cent.
“We achieved a strong 24 per cent growth in constant currency revenues in FY26, with reported currency revenues increasing by 29.5 per cent to $6,415 million, reflecting attractive industry fundamentals and focused operational execution, further supported by tariff adjustments in Nigeria and macroeconomic tailwinds,” the statement said.
Among regional markets, Francophone Africa recorded constant currency growth of 17.1 per cent, while Nigeria posted a 47.5 per cent increase.
The company said its mobile services business grew 22.6 per cent in constant currency terms during FY26. Data revenue, now the largest contributor to group revenue, climbed 35.2 per cent, while mobile money revenue increased 28.4 per cent.
“In constant currency, the mobile services segment grew by 22.6 per cent, with data revenues- now the largest component of Group revenues - increasing by 35.2 per cent, while mobile money continues to see strong operating momentum, up by 28.4 per cent. In Q4FY26, constant currency revenues grew by 22.3 per cent as Nigerian tariff benefits partially lapped during the quarter,” the statement said.
Airtel Money continued to expand its user base during the year. The platform’s customer base grew 21.3 per cent year-on-year to 54.1 million users, while transacting customers rose 74 per cent. Annualised total processed transaction value crossed USD 215 billion in reported currency during the fourth quarter.
Capital expenditure for FY26 increased 31.9 per cent to USD 884 million as the company accelerated network expansion and digital infrastructure investments. Airtel Africa deployed more than 3,250 new network sites during the year and expanded its fibre footprint by around 3,200 km to 81,900 km.
“Capex guidance for FY27 is approximately USD 1.1bn, reflecting accelerated investment to expand coverage and capacity, while also investing in home broadband (HBB) and data centres, as we reinforce our strategy to scale digital infrastructure to meet rising demand,” the company said.
Commenting on the overall performance, Taldar said the company delivered growth across key operating and financial indicators during the year.
“This year delivered a very strong performance across both operating and financial metrics, reflecting the attractive industry fundamentals and structural growth drivers across our footprint. This backdrop, and the continued success of our strategy, contributed to our highest level of customer additions, revenue and Ebitda growth,” Taldar said. |
