According to corporate filings released by parent company Airtel Africa on the Nigerian Exchange (NGX), the Nigerian subsidiary posted a revenue of 1.37 trillion naira, or roughly $1.014 billion.
The figures mark a 45% jump from the 941.2 billion naira, or $699 million, recorded during the corresponding period last year. Nigeria remains the group’s single largest market.
Surging mobile data consumption fueled the growth. Data revenue expanded by 52.7% to 732.6 billion naira ($544 million), up from 480.7 billion naira ($357 million) previously.
Voice revenue also climbed, rising 37.8% to 498.24 billion naira ($370 million). Total customer base grew 15.1% to 61.7 million subscribers, with internet users reaching 32.9 million.
Underlying EBITDA rose 50.2% to 793.15 billion naira ($589 million), pushing the EBITDA margin to 58.1%. Capital expenditure in the country more than doubled to $177 million as the carrier expanded network capacity.
The telecom operator’s mobile financial services arm, SmartCash PSB, also posted gains. Revenue for the payment service bank grew 150% to $10 million, though it faces heavy competition from market leaders like OPay.
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