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Safaricom net profit jumps on M-Pesa, data growth

Safaricom Plc chief executive Peter Ndegwa announcing Sh74.7 billion net profit for the full year ended March 2020 on April 29. PHOTO | COURTESY

By  BRIAN NGUGI

Safaricom #ticker:SCOM net profit for the full year ended March this year jumped 19.54 percent to Sh74.7 billion on strong M-Pesa and mobile data revenue growth that offset a decline in voice and messaging (SMS) revenues.

During period, Safaricom's M-Pesa revenue grew by 12.6 percent to Sh84.44 billion as mobile data revenue increased by 12.1 percent to Sh40.67 billion.

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Note: The results are not exact but very close to the actual.

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