Safaricom's half year net profit rises to Sh26.2 billion

M-Pesa revenues grew by 16.2 per cent to Sh30.05 billion in the period while data income rose from Sh13.4 billion to Sh17.55 billion.

Safaricom announced a 9.5 per cent increase in after tax profit to Sh26.2 billion ($252.7m) for the six months ended September 30.

Safaricom chief financial officer Sateesh Kamath, who is sitting in for CEO Bob Collymore who has took a medical leave early this week announced the results.

Mr. Kamath said the performance was backed by a strong performance in mobile money M-Pesa and data while traditional services like voice remained resilient.

“M-Pesa and Mobile data are becoming the engines of growth,” said Mr Kamath

Voice revenue, which is still Safaricom’s biggest income stream, grew from Sh45.7 billion to Sh47.35 billion.

According to the Kenya Communications Authority sector report for the first quarter of the financial year 2016/2017, Safaricom Limited’s market share increased by 3.8 per cent to stand at 69 per cent from the previous quarter’s share of 65.2 per cent.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

9 most expensive African countries to rent a one bedroom apartment, based on property price to income ratio

9 most expensive African countries to rent a one bedroom apartment, based on property price to income ratio

Top 10 happiest countries in Africa in 2022

Top 10 happiest countries in Africa in 2022

Here are the top 10 cities in Africa where the most rich people live

Here are the top 10 cities in Africa where the most rich people live

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

These 6 countries have the highest unemployment rates in Africa

These 6 countries have the highest unemployment rates in Africa

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Top 10 African countries with the highest corporate tax rates

Top 10 African countries with the highest corporate tax rates

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match