Mobile service provider Airtel Malawi has made a profit after tax of K36.9 billion in the 2022 financial year, an increase from K32.3 billion made during the 2021 financial year.
This was disclosed on Wednesday 12th July 2023 during the company’s Annual General Meeting which was held at Sunbird Mount Soche hotel in the commercial city of Blantyre.
Speaking to journalists after the AGM, Airtel Malawi plc Managing Director Charles Kamoto, said the profit has been registered following a 5 percent increase of the company’s customer base.
Kamoto further attributed the success to some other strategies which the institution implemented in cost containment which he said has helped the company to make a K153 Billion revenue from last year’s K131.7 billion.
“In 2022 Airtel’s revenue reached K153 billion and our profit reached K36.9 billion which was substantial growth from the previous year. 5% growth in our customers was a factor for growth in revenue. Our average revenue per customer also increased by around 10%.
“A combination of that led to the growth of about 16% of our revenue which was pivotal to our increase in our profits to K36.9 billion. Of course coupled with our other strategies in cost containment to ensure that the company continues to be profitable and viable for the future,” said Kamoto.
The Managing Director further promised both Airtel customers and investors brighter days saying the company is introducing innovations which seeks to increase further the customer base.
Among others, Kamoto said Airtel Malawi plc seeks to invest in operations which include extending their network coverage to rural areas.
“As Airtel we continue to invest, the demands of our customers are increasing by day. Customers are demanding more of our data services, and network coverage even in rural setups that never had coverage before. We are responding to that by investing more into our network and both in terms of increasing coverage, in terms of increasing capacity of our network to handle the traffic,” added Kamoto.
