Bharti Airtel's Africa arm to be added to FTSE 100 index

“Airtel entered Africa in 2010 and the business has demonstrated consistent growth in its customer base, revenues, profits, margins, and cash generation, as well as strengthening its balance sheet through reduced leverage,” Bharti Airtel said.

Airtel Africa serves around 122 million subscribers across the continent. In the six-month period ended September 30, Airtel Africa’s revenue grew 25.2 percent to $2.3 billion while its net profit doubled to $335 million.

“Airtel Africa is a strong player in the African continent, which has emerged as the next growth frontier globally,” Mittal said.

At 2.56 pm, Bharti Airtel was trading 0.4 percent down at Rs 709.95 on the National Stock Exchange.