Airtel Africa Q1 results: Net slumps 57% on-year under Covid impact; outlook uncertain

New Delhi: Bharti Airtel’s Africa operations reported a 57% on-year drop in net profit to $57 million for the first quarter this fiscal, hurt by the pandemic-led disruptions, making it the third straight quarter of declining bottomline.

“The outlook remains uncertain, particularly regarding a so-called potential second wave of infections and the actions governments will decide to take in that event,” said Raghunath Mandava, CEO, Airtel Africa said in a statement on the quarterly results released Friday.

On a sequential basis, the consolidated net profit from operations in 14…

Source link

About Author: ACM
This information is 3rd party content that is added to ACM strictly for non-commercial informational purposes. Information is the Key to Set the Black Mind Free