Bharti Airtel Limited Africa data traffic rises 62%

Bharti Airtel Limited reported 62.0% year-on-year growth in Africa data traffic to 3,216 million GBs in the quarter ended September 30, 2026, while Airtel Money transaction value rose 36.5% to US$69 billion. Constant-currency Africa revenue increased 20.6% to US$1,958 million and EBITDA margin rose to 50.5% from 49.6%.

How fast did Airtel’s Africa data business grow?

Airtel’s Africa data business grew through both customer additions and increased consumption in the September 2026 quarter. Data customers increased by 11.8 million year on year to 89.9 million from 78.1 million, representing 46.4% of the 193.9 million Africa customer base. That share was 45.0% of the 173.8 million customer base in the corresponding quarter last year, while the total base grew 11.6%.

Data traffic grew faster than the number of data customers. Total traffic reached 3,216 million GBs, compared with 1,986 million GBs a year earlier, producing 62.0% growth. Average data use per customer rose 39.8% to 12.1 GBs from 8.6 GBs, indicating that higher use by existing and newly added data customers contributed to the traffic increase.

Airtel expanded its network alongside the data increase. Its Africa operations had 42,490 network towers on September 30, 2026, compared with 38,314 a year earlier, an increase of 4,176 towers. Mobile broadband base stations rose by 22,216 to 165,856 from 143,640, while data traffic increased by 62.0%, substantially faster than the 15.5% expansion in the base-station count.

How did Airtel Money add to Airtel’s Africa growth?

Airtel Money increased its users, transaction value and constant-currency revenue in the September 2026 quarter. Customers using the platform rose 22.4% to 60.9 million from 49.8 million in the corresponding quarter last year. The increase of 11.1 million Airtel Money users was close to the 11.8 million addition in Africa data customers, although the presentation does not disclose the overlap between the two groups.

Airtel Money transaction value reached US$69 billion, up 36.5% from US$50 billion a year earlier. Its constant-currency revenue rose 25.8% to US$437 million from US$348 million. Transaction value therefore grew faster than Airtel Money revenue, and both measures grew faster than the 11.6% increase in Airtel’s overall Africa customer base.

Airtel reports Airtel Money revenue separately but does not provide an Africa revenue split between mobile connectivity, data and financial services. The reported US$437 million of Airtel Money revenue was equivalent to about 22% of Africa’s US$1,958 million constant-currency revenue in the quarter, based on the two figures disclosed. The presentation also does not disclose transaction frequency, merchant volumes or country-level Airtel Money revenue.

Did Airtel’s Africa revenue and profitability increase?

Airtel’s Africa revenue, EBITDA and earnings before interest and tax all increased in constant currency in the September 2026 quarter. Revenue rose 20.6% to US$1,958 million from US$1,624 million, with Airtel attributing the increase to growth across Nigeria, East Africa and Francophone Africa. EBITDA rose to US$998 million from US$805 million, while earnings before interest and tax increased to US$672 million from US$542 million.

Airtel’s EBITDA margin increased by 0.9 percentage points to 50.5% from 49.6% a year earlier. Operating expenses rose to US$628 million from US$545 million, while EBITDA increased by US$193 million from US$805 million. Depreciation and amortisation rose to US$314 million from US$262 million, and Africa capital expenditure was US$268 million during the quarter.

Sequentially, Africa revenue was US$1,958 million in the September 2026 quarter, compared with US$1,853 million in the preceding quarter under Airtel’s five-quarter reporting table. EBITDA was US$998 million, compared with US$921 million in the preceding quarter, while operating expenses were US$628 million versus US$597 million. The presentation does not provide a sequential EBITDA margin for Africa or a cost breakdown by network operations, staff and selling expenses.

What do Airtel’s operating measures show about Africa’s growth drivers?

Airtel’s reported measures show that data consumption and mobile financial-services activity grew faster than its Africa customer base in the September 2026 quarter. Customer numbers rose 11.6% to 193.9 million, compared with 62.0% growth in data traffic, 39.8% growth in data usage per customer and 36.5% growth in Airtel Money transaction value. The data-customer share of the base increased by 1.4 percentage points to 46.4%.

Voice use expanded more slowly than data activity. Total minutes on Airtel’s Africa network rose 5.7% to 158.2 billion from 149.6 billion in the corresponding quarter last year. This comparison shows a widening difference between the reported growth rates for data traffic and voice minutes, but the presentation does not disclose Africa revenue by voice, data or Airtel Money service.

The network investment figures provide context for the operating expansion. Airtel spent US$268 million of capital expenditure in Africa during the quarter and ended it with 165,856 mobile broadband base stations. The company does not disclose spectrum additions, capacity per site, data pricing, or a target for future data traffic and Airtel Money transaction growth, so the presentation does not quantify the expected pace beyond September 2026.

Conclusion

Airtel’s Africa results for the quarter ended September 30, 2026 show data and Airtel Money expanding faster than the overall customer base. Data traffic rose 62.0% to 3,216 million GBs, Airtel Money transaction value increased 36.5% to US$69 billion, and constant-currency revenue grew 20.6% to US$1,958 million as EBITDA margin increased to 50.5%.

The next disclosed matter to watch is the planned initial public offering at one of Airtel’s African subsidiaries. Airtel recognised an exceptional charge of Rs 18.02 crore in the September 2026 quarter for expenses related to that offering, with a Rs 70 lakh tax benefit and Rs 4.58 crore of the net charge allocated to non-controlling interests. The presentation does not provide an offering timetable, valuation or further financial details.