Airtel Africa net profit falls 57% in June quarter

Airtel Africa announced a 57 percent fall in net profit to 57 million $ for the first quarter because the business was terribly affected by COVID-19 pandemic. Revenue rose by 6.9 percent to 851 million $ in the June quarter, with constant currency revenue growth of 13 per cent, weighed down by higher finance costs, network operational expenses costs and bigger payouts towards licence fees and spectrum usage charges.