Bharti Airtel's Africa operations has narrowed its net loss to $52 million during quarter ended December 31, 2011, against $119 million in the same period last year.
"We are happy to report a very steady improvement in performance in Africa. Our customer base has gone up to 50 million and now we are close to 51 million. Of the total African market, we are getting closer to 30% customers and in this quarter particularly we added 2.5 million new customers," Bharti Airtel CEO (International) and Joint MD Manoj Kohli told reporters here today.
Total revenue rose by $1,057 million during October-December quarter, against $911 million in the same period last fiscal.
"We have reported good progress in all the countries we operate. Data services we have already launched in five countries we will be launching in another six countries very soon and airtel money is most exciting product for airtel Africa. We have already launched in six countries and going to launch in another eight countries in next 6 to 8 weeks," Kohli said.
Africa reported positive operating cash flow for the first time in Q3 at $17 million.
On the capex front, Kohli said,"We are on the peak now in Africa. Our capex can't go up it can only come down. This quarter we have had a free operating cash, which is good news because we have started to have our own cash after investing our money in Africa."
During the quarter ended December 31, 2011, the company incurred a capital expenditure of $265 million on its African operation.
The company provides services in Congo, Gabon, Madagascar, Niger, Ghana, Kenya, Malawi, Seychelles, Sierra Leone, Tanzania, Uganda and Zambia. This makes Airtel's footprint across Africa, the widest amongst all telecommunications service providers in the continent.