Airtel Africa PLC stock is up 40 percent already... What's next?

Airtel is a telecommunication company and it’s listed on the Nigerian stock exchange. The stock had a good run in the past month and has climbed to a new 52 week high.

In the past month, Airtel Africa PLC (AIRTELAFRI) stock soared from N900 to N1,271 per share, and in 6 months, the stock has gone up from N650 to N1271 per share. At this rate, Airtel Africa PLC’s market capitalization is at N4,776,610,561,584.00. 

Airtel specializes in the telecommunication business and the company also allows users to send money to each other and use their phone line to make payments for utilities and other bills.

The company is located in many countries around Africa and it was recently listed on the UK stock exchange.

When did Airtel get listed on the UK stock exchange?

Airtel Africa was listed on the London Stock Exchange in June 2019. It now becomes the only entity promoted by an Indian company to join the FTSE 100.

According to reports, the company reported a 21.7% revenue increase, and that was about $3.5 billion. Out of that, the company generated $540 million in net profit.

Commenting on the results, Segun Ogunsanya, Airtel Africa CEO said a strong Q3 “contributed to a pleasing nine-month financial performance across all key metrics, while “driving continued strong growth in ARPUs [average revenue per user] across voice, data and mobile money.”

Revenue in Nigeria, its core market on the continent, also jumped by 29%, contributing 1.9 million customer additions in the third quarter and taking total Group customer additions to 3.1 million.