New Delhi: Bharti Airtel’s subsidiary Airtel Africa has been made part of the Monetary Instances Inventory Trade 100 Index or FTSE 100 Index, efficient 31 January, the provider mentioned in a press release Thursday.
“It is a important milestone for Airtel Africa, which turns into a part of the FTSE 100 in simply two and a half years of itemizing on the London Inventory Trade becoming a member of essentially the most useful corporations. Airtel Africa is a powerful participant within the African continent, which has emerged as the subsequent development frontier globally,” mentioned Sunil Bharti Mittal, chairman, Bharti Airtel.
Airtel Africa, which started operations in 2010 and listed on the London Inventory Trade in June 2019, has a market capitalisation of over $7.5 billion with enterprise worth at $10.7 billion.
For half-year ended 30 September 2021, Airtel Africa’s income grew by 25.2% to $2.27 billion with double digit development throughout all areas. For the interval its internet revenue doubled to $335 million whereas its leverage lowered to 1.5x from 2.2x. By means of its cell telecoms and cell cash companies, Airtel Africa plc is reworking lives of over 122 million individuals throughout the 14 African markets through which it operates.
Mittal mentioned that Africa operations have had a stellar turnaround underneath Airtel veteran Raghu Mandava who alongside along with his workforce spent 5 years reshaping the technique in Africa.
“We proceed to take a position aggressively and execute our development technique underneath the brand new MD&CEO Segun Ogunsanya to ship on the numerous market potential afforded by Africa and strengthen Airtel’s place as one the most important world manufacturers out of India,” Mittal added
Supply: Live Mint