Airtel group 2013 third quarter profits up

AirTel group posted a 13.3 per cent increase in profits during third quarter last year compared to the second quarter, a statement from the telecom provider has indicated.

AirTel group posted a 13.3 per cent increase in profits during third quarter last year compared to the second quarter, a statement from the telecom provider has indicated.

The firm’s consolidated revenues for the quarter stood at 21.94m rupees (about Rwf235.7m) from 19.4m rupees (about Rwf208.1m) in the second quarter.

 

The consolidated mobile Internet revenues stood at 1.74m rupees a 105.2 per cent year on year growth from 846,000 rupees in 2012’s third quarter, accounting for more than one-third of the overall incremental revenue.

 

The firm’s international revenues grew by 18.5 per cent year-on-year, with Africa growing by 17.2 per cent and South Asia by 44.8 per cent. 

 

Africa revenues grew by 4.1 per cent on sequential quarter basis led by a strong 16.8 per cent increase in data revenues.

Meanwhile, the company also announced changes in its management style to pursue its growth agenda in Africa.

The re-alignment will involve creation of new country-clusters, replacing the regional arrangement within its Africa operations while incorporating the French and English speaking countries, respectively.

“This new structure will enable us to leverage the power of country portfolio management,” said Christian de Faria, the Airtel Africa chief executive officer.

“Other than Nigeria and the DR Congo, the remaining 15 country operations of Airtel Africa will be divided into two clusters, designed to leverage the power of cross-country strategic synergies, faster decision-making and speed to market as well as enhanced empowerment for the country managing directors,” he said.

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