BUSINESS

Airtel Africa’s Share Price Drops By 0.39% To Close At N1,270

Airtel Africa Plc’s share price has depreciated by 0.39% to close at N1,270.00.

NewsBeatng reports that Market capitalization dipped during the week to valued at N4.77 trillion, from N4.79 trillion at the end of the trading week.

Airtel Africa Plc ended the week as the most capitalized company on the exchange, leading the SWOOTS strongly, with MTNN, its competitor and third-most capitalized stock, far behind.

The telecom giant released its financial statement for half the year ended September 2022 revealing the Profit after tax of $330 million, lower by 1.5% due to higher foreign exchange and derivative losses of $160 million.

Similarly, its reported strong revenue growth in constant currency was posted across all four reporting segments as Mobile Services revenue in Nigeria grew by 19.7%, in East Africa by 12.4% and in Francophone Africa by 12.1% (and across the group by 15.6%, with voice revenue up by 12.0% and data revenue up by 22.1%).

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