Telecommunications giant, Safaricom, has announced a 38.9 per cent increase in profits buoyed by M-Pesa, SMS and data revenues.
Safaricom Tuesday morning announced a Sh17.5 billion after-tax profit for the year ended March 31, 2013 compared to Sh12.6 billion posted last year.
Its revenues grew to Sh124.3 billion with M-Pesa contributing Sh21.8 billion, SMS Sh10.1 billion, data Sh8.4 billion with voice revenues being Sh77.6 billion.
“Most notable was our growth in non-voice service revenue with a 29 per cent increase in the year, underpinning our strategy to diversify our revenue channels,” said Bob Collymore, Safaricom CEO.
Safaricom share has been on a rally at the Nairobi Securities Exchange as investors anticipated a robust performance and higher dividend payout.
Monday the counter closed at Sh6.95 per share up 21 per cent in the last three months.
The telecom will pay a dividend of Sh0.31 per share up from Sh0.22 paid out last year.