Airtel stocks outperform rival MTN’s at NSE �

thecornetadmin July 17, 2022

0 1 minute read

Airtel Africa Plc outperformed its rival MTN at the combined market capitalization of stocks worth over one trillion (SWOOTs) in the preceding week.

Airtel’s share price rose by 10.00%, thereby gaining N170 billion during the week. The telecom company’s share price grew from N1,732.20 to stand at N1,905.4 per share at the end of the trading week, with a market capitalization of N7.16 trillion.

In its 2021 9-month Unaudited Financial Statement, Airtel revealed a 22.5% growth in revenue from $2.85 billion in 2020 to $3.49 billion in the current period.

At the same time, rival MTNN lagged far behind, though emerging the second-most capitalized stock.

MTNN Plc’s, with its share price at N230.30, remained flat at the end of the trading sessions of the week.

The South Africa-owned communications company has a total market capitalization of N4.69 trillion, which was N2.47 trillion short of Airtel Africa’s current market value.

The company released its Q1 2022 financial result, reflecting a 22.23% growth in revenue for the period, while profit after tax grew significantly by 31.28% from N73.75 billion in Q1 2021 to N96.82 billion in the current period.