KAMPALA (Reuters) – Telecom firm Airtel Uganda said on Monday its 2023 pre-tax profit declined 9.8% from the previous 12 months, hurt by a surge in rental and energy costs.
The firm, a unit of Indian telecoms giant Bharti Airtel, was listed on the Uganda Securities Exchange (USE) last year after a heavily undersubscribed initial public offering.
It earned 426.8 billion Ugandan shillings ($108.9 million) in pre-tax profit last year.
Airtel competes with a unit of South Africa’s MTN Group in the east African country.
($1 = 3,920.0000 Ugandan shillings)
(Reporting by Elias Biryabarema, Editing by Bhargav Acharya)
