Airtel Africa records $586 million net profit as data revenues lead growth Airtel Africa’s latest results highlight soaring data revenues, rapid mobile money expansion, stronger margins, and a sharp jump in net profit as demand for digital connectivity accelerates across its African markets.

Airtel Africa has posted a sharp rebound in profitability for the nine-month period ended 31 December 2025, reporting a net profit of $586 million, driven largely by surging data revenues, expanding smartphone penetration, and continued growth in its mobile money business.

The results, released on 30 January 2026, underline Airtel’s accelerating operating momentum across its 14 African markets, as demand for internet connectivity and digital financial services continues to reshape the continent’s telecom landscape.

Data revenues now Airtel’s biggest revenue engine

The company reported that data revenues were the largest contributor to group revenues, rising by 36.5% in constant currency during the period, far outpacing voice revenue growth of 13.5%.

In financial terms, Airtel’s data revenue climbed to $1.825 billion, up from $1.306 billion a year earlier, reinforcing the shift in consumer spending from traditional voice services to mobile broadband.

Overall group revenue increased to $4.667 billion, representing growth of 24.6% in constant currency and 28.3% in reported currency, supported by currency appreciation in key markets.

Mobile services revenue reached $3.894 billion, while mobile money revenues rose strongly to $986 million, reflecting Airtel’s dual growth strategy across connectivity and financial inclusion.

Net profit more than doubles

Airtel’s profit after tax rose sharply to $586 million, up from $248 million in the prior period, an improvement of more than 136%.

Management attributed the jump in earnings to stronger operating performance as well as derivative and foreign exchange gains of $99 million, compared with derivative and forex losses of $153 million in the previous year.

Basic earnings per share climbed to 13.1 cents, compared with 4.4 cents previously, reflecting the improved profitability.

EBITDA margins strengthen further

Operating profitability also improved significantly.

Airtel’s EBITDA rose to $2.283 billion, up from $1.681 billion, while EBITDA margins expanded to 48.9%, from 46.2% a year earlier.

In the third quarter alone, margins reached 49.6%, highlighting the benefits of revenue growth combined with Airtel’s cost efficiency programme.

Customer base expands to 179 million

Airtel’s total customer base grew by 10% to 179.4 million, while data customers rose by 14.6% to 81.8 million.

Smartphone penetration increased by 3.9 percentage points to 48.1%, as data usage per customer climbed to 8.6GB per month, up from 6.9GB in the prior period.

Average revenue per user (ARPU) rose to $3.0, compared with $2.6, representing growth of 16.7%.

Airtel Money crosses 52 million subscribers

Mobile money continued to scale rapidly.

Airtel Money subscribers increased by 17.3% to 52.0 million, surpassing the 50 million milestone.

Total processed value (TPV) rose to $141.8 billion, while annualised TPV for Q3 exceeded $210 billion, demonstrating deeper adoption of Airtel’s digital payments ecosystem.

Mobile money ARPU grew by 9.8% in constant currency, supported by a broader range of services.

Heavy investment in network expansion

To sustain growth, Airtel accelerated its infrastructure investment.

Capital expenditure rose by 32.2% to $603 million, as the company rolled out approximately 2,500 new sites and expanded its fibre network by around 4,000 kilometres, taking total fibre length to more than 81,500 km.

Population coverage improved to 81.7%, up from 81.1% a year earlier.

Stronger balance sheet and declining leverage

Airtel’s leverage position improved significantly, with net debt-to-EBITDA falling to 1.9x, from 2.4x a year ago.

Lease-adjusted leverage also declined to 0.7x, compared with 1.1x, reflecting stronger cash generation and EBITDA growth.

Net debt stood at $5.653 billion as of 31 December 2025.

Outlook: Airtel Money listing expected in 2026

CEO Sunil Taldar said Airtel remains on track for the listing of Airtel Money in the first half of 2026, while continuing to invest in connectivity and digital inclusion.

The company also announced a strategic partnership with SpaceX to introduce Starlink Direct-to-Cell satellite connectivity across its footprint, positioning Airtel as the first African operator to pursue direct-to-cell satellite coverage.