Subscribers of Airtel Nigeria spent $435 million on data subscription in the year ended March 31, 2020, Airtel's financial result for the period under review has disclosed. The amount was a significant growth when compared to the corresponding period of 2019, increasing by 68.1%.
Airtel Nigeria disclosed that its data revenue increased from $259 million in the corresponding period of 2019, to $435 million in the year ended March 31, 2020. The network provider also recorded growth in its voice revenue, after Nigerians splashed $850 million on calls compared to the $740 million recorded last year within the same period.
The growth in call revenue represented 15.1% increase. Meanwhile, Airtel Nigeria made a whopping $1.3 billion in total revenue in the year ended March 31, 2020, a financial result seen by Allnews disclosed. The amount represented a 24.4% growth when compared to the corresponding period of 2019 when the network provider grossed $1.1 billion in revenue.
Speaking on the growth in Voice revenue, Airtel Nigeria stated that the growth was as a result of a 12.5% increase in the customer base and a 1.2% increase in average revenue per user. For the increase in data revenue, Airtel Nigeria stated that it was supported by the 14% growth in data customers and a 42.2% increase in average revenue per user for data. The total revenue grew significantly as a result of the growth experienced in voice and data revenue.
Nigeria is Airtel Africa's largest market
Airtel Africa recorded a 13.8% growth in its revenue after increasing to $3.4 billion this year, from $3.07 billion of the corresponding period of 2019. The Voice revenue of Airtel Africa also grew from $1.91 billion of last year to $1.97 billion this year, representing a growth of 5.2%.
The Data revenue jumped by 39% from $683 million to $930 million, while the mobile money revenue, another significant source of revenue for telcos, climbed 37.2% to reach $311 million this year, from $234 million of last year during the same period.
According to the financial results, Nigeria represents 40% of Airtel Africa's revenue, making Nigeria the largest market for Airtel Africa.