Bharti Airtel share price: CLSA says BUY, price target Rs 730
CLSA says that In 4QFY21, Bharti Airtel’s Africa revenue increased 15% YoY to US $1038 mn and Ebitda was up 25% YoY. Data and mobile money account for 44% of its Africa revenue. Revenue growth was across regions, with East Africa up 24% YoY and Nigeria up 23% YoY. Airtel Africa’s FY21 cash flow after Capex and interest costs was US $647 mn, up 43% YoY, and the region’s gearing is comfortable at 2x EBITDA
CLSA highlights that Africa’s FY21 operating free cash flow (EBITDA less Capex, cash interest & tax), rose 43% YoY to US $647 mn: Reuters