Airtel Money’s profit jumps to $228 million as payments and transfers revenue grows 33%

Airtel Money’s profit after tax rose to $228 million in the six months ended September 2026, as the fintech expanded its customer base and recorded growth in payments, transfers and other financial services.

The company reported revenue of $830 million for the half-year ended September 30, up 34% in reported currency from $620 million a year earlier. In constant-currency terms, which adjust for exchange-rate movements, revenue grew by 25.1%.

The results released today are Airtel Money’s first since its listing on the London Stock Exchange on October 9. According to the company, profit after tax increased from $188 million in the corresponding period last year, while its customer base grew by 18.7% to 56.7 million.

Payments and transfers revenue rose by 32.8%, while financial services revenue increased by 49.7% in reported currency. Both grew faster than the company’s traditional mobile wallet business, which recorded 25% growth. The figures point to the growing contribution of services that allow customers to move money, pay merchants and access financial products through their phones.

Payments drive growth beyond mobile wallets

Airtel Money operates across 13 markets in East and Francophone Africa, offering services including money transfers, merchant payments, remittances, savings, lending and insurance.

Its business has traditionally relied heavily on mobile wallets, which allow customers to deposit and withdraw money. But its latest results show that payments, transfers and other financial services are becoming increasingly important sources of revenue.

The company’s chief executive, Ian Basil Ferrao, said payments and transfers and financial services were its fastest-growing revenue streams during the period. The growth also coincided with increased customer activity. Average revenue per user rose by 5.1% in constant-currency terms, while the average transaction value per customer increased by 14.9% to $397 per month.

Airtel Money’s app customer base also expanded by 64.3% to 4.1 million, suggesting that more customers are using its digital channels. The company’s annualised total processed value reached $270 billion in the second quarter of its 2027 financial year, representing 36.4% growth in constant-currency terms.

Similar read: Airtel Money debuts on London IPO at $2.59 per share, now at $7 billion market capitalisation 

Total processed value measures the value of transactions moving through a payment platform. It indicates the scale of activity on the network, although it is not the same as revenue earned by the company.

Customer growth creates room for Airtel Money’s expansion

Airtel Money’s customer base reached 56.7 million, increasing its penetration of Airtel Africa’s telecommunications customer base to 42.9%, up 3.2 percentage points year-on-year. Ferrao said the company recorded particularly strong growth in its less-penetrated Francophone markets.

The company also has a substantial potential customer base within Airtel’s existing telecommunications network. Ferrao said around 75 million Airtel subscribers were not yet using Airtel Money, providing an opportunity to expand adoption.

However, stronger revenue did not translate into an improved underlying EBITDA margin. The margin fell to 48%, from 50.8% a year earlier, largely because of changes to agreements between Airtel Money and other parts of the Airtel group, alongside additional levies in one market.

Ferrao said the company expected the impact of these changes to moderate in the second half, allowing margins to strengthen. Airtel Money reiterated its full-year guidance, including expectations for revenue growth in the mid-20% range in constant-currency terms. Its board also declared an interim dividend of 6.4 US cents per share.

Airtel Money’s first results as a listed company show a business growing beyond basic wallet transactions. The next test will be whether it can sustain that growth, attract more users and improve profitability as its payments and financial services operations expand.

See also: Airtel Money secures $90m IFC backing ahead of London IPO