African arm, Airtel Africa, has posted an over two-fold jump in its profit to $813 million (about ₹7,700 crore) for the fiscal year 2026, mainly driven by tariff adjustments in Nigeria and forex gain, the company said on Friday.
Airtel Africa said it plans to list Airtel Money in the second half of 2026.
The company, which operates in 14 African countries, had posted a profit after tax (PAT) of $328 million in the preceding financial year.
“Higher profit after tax in the current period was driven by higher operating profit and derivative and foreign exchange gains of $127 million, compared to $179 million derivative and foreign exchange losses in the prior period,” the company said in a statement.
Airtel Money’s customer base increased by 21.3 per cent year-on-year to 54.1 million, and transacting customers increased by 74 per cent in FY26. Its annualised total processed value grew by 49 per cent to over $215 billion in reported currency in Q4FY26.
“Market conditions following recent geopolitical developments have affected the anticipated timing of the Airtel Money IPO. We have made good progress and remain committed to the listing as market conditions allow, with the intention of undertaking the IPO in the second half of 2026,” Airtel Africa CEO, Sunil Taldar, said.
Airtel Africa’s revenue increased 29.5 per cent to $6.4 billion in FY26 from $4.9 billion in FY25. However, the growth was 24 per cent on constant currency basis.
“We achieved strong 24 per cent growth in constant currency revenues in FY26, with reported currency revenues increasing by 29.5 per cent to $6,415 million, reflecting attractive industry fundamentals and focused operational execution, further supported by tariff adjustments in Nigeria and macroeconomic tailwinds,” the statement said.
The company recorded 17.1 per cent and 47.5 per cent growth in Francophone Africa and Nigeria, respectively, on constant currency basis.
“In constant currency, the mobile services segment grew by 22.6 per cent, with data revenues, now the largest component of Group revenues, increasing by 35.2 per cent, while mobile money continues to see strong operating momentum, up by 28.4 per cent. In Q4FY26, constant currency revenues grew by 22.3 per cent as Nigerian tariff benefits partially lapped during the quarter,” the statement said.
Airtel Africa’s capex for the year increased by 31.9 per cent to $884 million, in line with the company’s plans to scale up to $1.1 billion in the current financial year. During the reported fiscal, the company said it has rolled out over 3,250 new sites and expanded its fibre network by approximately 3,200 km to 81,900 km.
“Capex guidance for FY27 is approximately $1.1bn, reflecting accelerated investment to expand coverage and capacity, while also investing in home broadband (HBB) and data centres, as we reinforce our strategy to scale digital infrastructure to meet rising demand,” the statement said.
“This year delivered a very strong performance across both operating and financial metrics, reflecting the attractive industry fundamentals and structural growth drivers across our footprint. This backdrop, and the continued success of our strategy, contributed to our highest level of customer additions, revenue and EBITDA growth,” Taldar said.