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.
