The revenue of the company increased 10.7 per cent to USD 1,815 million during the quarter under review from USD 1,640 million in the corresponding quarter of 2019-20.
Airtel Africa CEO Raghunath Mandava said the first half of current fiscal year included the peak impact of the COVID-19 pandemic in the countries.
"Importantly, the fundamentals of our business remain strong and revenue growth further benefited from the execution of our strategy with a specific focus on expanding distribution in the rural areas, investing in our network and increasing 4G coverage, as well as benefiting from the fact we provide an essential service to consumer," he said.
Mandava said that as the lockdown restrictions eased during the second quarter, Airtel Africa's performance continued to improve with constant currency revenue growth of 19.6 per cent, up 6.6 per cent from the previous quarter.
"In Q2, performance in our mobile money business also significantly improved with constant currency revenue growth of 33.9 per cent, up 8 per cent from prior quarter, as lockdown restrictions were eased and fees on certain transactions, which had been previously waived, were largely reintroduced," Mandava said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.