Airtel Africa PLC (LSE:AAF) shares surged almost 9% on Thursday after the telecommunications firm unveiled a jump in revenue and profit over the third quarter.
Revenue jumped 21.3% to US$3.6 billion (£2.9 billion) on a constant currency basis, Airtel reported, as customer numbers climbed 7.9% to 163.1 million.
Post-tax profit, aided by an exceptional gain on currency appreciation, surged from US$2 million to US$248 million in the meantime.
"We have delivered an improvement in both the operating and financial performance in the last quarter,” chief executive Sunil Taldar said.
Demand for the likes of data had remained substantial despite challenging conditions, Taldar added, with traffic up 49% year on year.
Airtel also unveiled another US$100 million buyback, following repurchases last year.
Shares climbed 8.7% to 144.60p.