Airtel International has registered a 38.6 per cent growth in revenue for the first quarter ended June 30. In a press statement released on Wednesday, the telecommunications firm’s said its revenue increased from $2.62 billion to $3.79 billion as of June 30, 2011. “The above figures represent total revenue generated from 19 countries from Africa and Asia where the telecom has operations,” read the statement in part.
Africa’s total revenue increased by 6 per cent with the continent generating $979 million as of June 30, 2011 compared with $924 million in June last year. However, net profits dropped by 28 per cent in the period under review, registering $272 million down from $361 million.
The drop in net revenue is attributed to increased tax charges and the many investments undertaken by the telecom firm in India and Africa. Mr Sunil Mittal, the Airtel international chairman and managing director, said the firm is hopeful that the good start to the fiscal year will be maintained.