Airtel to increase Africa revenues in 2013 (Africa, India)
Telecom operator Bharti Airtel announced its Q4 results yesterday, revealing a net decline in its profit for the ninth consecutive quarter. According to the company, increased expenses such as of 3G licence fee amortisation, 3G interest costs, forex losses and tax provisions, were the prime cause for the decline, but said that it will be looking at increasing revenues from its African operations next year.
Bharti Airtel CEO (International) and Joint Managing Director Manoj Kohli, said that the restructuring for Africa is over and thus FY 13 will be a normal year. Therefore, the revenue goal of USD 5 billion definitely remains their target.
He added that all changes they wanted to bring in the network, IT, organisation design are successfully completed and he believes this will be a year of stability, operational consolidation and therefore they are confidant of leading a growth in these markets. He also said that the company aims at achieving 40 per cent EBITDA (earnings before interest, taxes, depreciation, and amortisation) from its African operations.
Kohli claimed that cost efficiencies gained from the new business model in Africa has been completed and now they will see efficiencies moving in steadily.