BUSINESS

Airtel Africa Share Price Reduces By 5.20%, Market Capitalization Declines By N319.44billion

 

Airtel Africa Plc share price  has depreciated by 5.20% at the end of last week trading to close at N1,550.00 from N1,635.00 the previous week..

Its market capitalization also declined by N319.44 billion to stand at N5.83 trillion at the end of the trading week. 

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

NewsBeatng reports that the telecom giant released its financial statement for half the year ended September 2022 revealing a 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.

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