Airtel Africa reported a 25% increase in net profit year-on-year. However, on a sequential basis, net income fell 26%, hurt by higher costs and the Nigerian call ban.

Bharti Airtel's Africa business posted a net profit of $178 million in the first quarter of fiscal 2022. Sequentially, net profit fell 26 percent, hurt by higher costs and also by excluding outbound calls for customers in Nigeria who had not yet registered their national identification numbers.

Airtel Africa's revenue for the three months ended June 30 rose 13% year-on-year and 2.8% sequentially in reported currency to $1.257 billion, the company announced Thursday. Average revenue per user (ARPU) rose 0.6% quarter-on-quarter and 4.4% year-on-year to USD2.90.

Airtel Africa''s net finance charges in the June 2022 quarter increased 55% year-on-year and 34.8% sequentially to USD151 million. Airtel Africa's net debt fell 13.5% y-o-y, but increased 3.9% sequentially to $3.056 billion in the quarter ended June 2023.