Airtel Africa plc (AAF.L) Thursday reported profit before tax of $55 million for the 9-month period, 93.1% lower than $801 million in the same period a year ago, primarily hurt by derivatives and foreign exchange losses.
The company reported a loss of $61 million or $1.6 per basic share for the period compared with a profit of $468 million or $12.5 per basic share a year ago.
Excluding one-time items, Airtel Africa posted a profit of $265 million or $7.1 per share, lower than $406 million or $10.8 per share last year.
Revenue for the period declined 1.4 percent to $3.861 billion from $3.914 billion in the previous year.
Additionally, the company said it plans to buy back up to $100 million of shares over a 12-month period starting from early March 2024.
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