Airtel Money revenue increased 25.1% at constant currency to $830 million in the six months ended September 30, 2026. The company reported its first financial results since listing in London earlier this month. Profit after tax rose to $228 million from $188 million a year earlier, supported by stronger revenue and growing digital financial services.

Revenue increased 34% in reported currency compared with the same period last year, partly due to currency appreciation, particularly the Zambian kwacha. Underlying earnings before interest, tax, depreciation, and amortization (EBITDA) climbed 26.4% in reported currency to $398 million.

Key Highlights

• Airtel Money revenue rose 25.1% at constant currency to $830 million.
• Profit after tax increased to $228 million from $188 million.
• Customer base expanded 18.7% to 56.7 million.

Customer Base and Digital Transactions Expand

Airtel Money’s customer base grew 18.7% year-on-year to 56.7 million. Its penetration among Airtel Africa’s telecom customers increased by 3.2 percentage points to 42.9%.

The number of customers using its smartphone application rose 64.3% to 4.1 million, highlighting growing adoption of its digital platform. Average revenue per user increased 5.1% at constant currency, while the average monthly transaction value per customer climbed 14.9% to $397.

Revenue growth was recorded across the company’s major business segments. At constant currency, wallet services revenue increased 27.6%, payments and transfers grew 29.4%, and financial services revenue rose 44.8%.

The company also expanded its distribution network. Its active agent network grew 26.3% to 2.4 million, while its merchant network increased 85.5% to more than 587,000.

However, the underlying EBITDA margin declined to 48% from 50.8% in the year-ago period. Airtel Money attributed the pressure mainly to changes in intra-group agreements that took effect in July 2025 and additional levies in one of its markets.

Interim Dividend and FY27 Outlook

Airtel Money declared an interim dividend of 6.4 US cents per share. The payout follows its policy of targeting a minimum distribution of 80% of profit attributable to shareholders. The company maintained its financial guidance for the 2026-27 financial year. It expects revenue growth in the mid-20% range at constant currency.

The underlying EBITDA margin is expected to moderate by up to around two percentage points compared with FY26 before returning to above 50% over the medium term. Chief Executive Ian Basil Ferrao said the London listing marked a milestone for the business. He also described the first-half performance as being in line with expectations.

The results highlight Airtel Money’s continued expansion in digital payments and financial services, supported by a growing customer base and wider merchant and agent networks.