Consolidated statement of changes in equity

Equity attributable to owners of the company

Non-

controlling

interests

(NCI)

$m

Total

equity

$m

Share capital

Reserves and surplus

Equity

attributable

to owners

of the

company

$m

Number of shares

Amount

$m

Retained

earnings

$m

Transactions

with NCI

reserve

$m

Other

components

of equity

$m

Total

$m

As of 1 April 2023

6,839,896,081

3,420

3,902

(929)

(2,758)

215

3,635

173

3,808

(Loss)/profit for the year

–

–

(165)

–

–

(165)

(165)

76

(89)

Other comprehensive gain/(loss) 

–

–

0

–

(1,141)

(1,141)

(1,141)

(32)

(1,173)

Total comprehensive income/(loss)

–

–

(165)

–

(1,141)

(1,306)

(1,306)

44

(1,262)

Transactions with owners of equity 

Employee share-based payment reserve

–

–

(1)

–

2

1

1

–

1

Purchase of own shares (net)

–

–

–

–

1

1

1

–

1

Cancellation of deferred shares

(3,081,744,577)

(1,541)

1,541

–

–

1,541

–

–

–

Ordinary shares buy-back programme (refer to note 5(d))

(7,389,855)

(4)

(9)

–

(37)

(46)

(50)

–

(50)

Transactions with NCI3

–

–

–

91

–

91

91

(12)

79

Dividend to owners of the company

–

–

(212)

–

–

(212)

(212)

–

(212)

Dividend (including tax) to NCI1

–

–

–

–

–

–

–

(65)

(65)

As of 31 March 2024

3,750,761,649

1,875

5,056

(838)

(3,933)

285

2,160

140

2,300

Profit for the year

–

–

220

–

–

220

220

108

328

Other comprehensive income

–

–

1

–

178

179

179

42

221

Total comprehensive income

–

–

221

–

178

399

399

150

549

Opening reserve adjustment for hyperinflation2

–

–

–

–

246

246

246

62

308

Transactions with owners of equity

Employee share-based payment reserve

–

–

(4)

–

(1)

(5)

(5)

–

(5)

Purchase of own shares (net)

–

–

–

–

8

8

8

–

8

Ordinary shares buy-back programme (refer to note 5(d))

(80,231,773)

(40)

(120)

–

60

(60)

(100)

–

(100)

Transactions with NCI3

–

–

–

7

–

7

7

(1)

6

Dividend to owners of the company (refer to note 5(a))   

–

–

(229)

–

–

(229)

(229)

–

(229)

Dividend (including tax) to NCI1

–

–

–

–

–

–

–

(62)

(62)

As of 31 March 2025

3,670,529,876

1,835

4,924

(831)

(3,442)

651

2,486

289

2,775

1 Dividend to non-controlling interests include tax of $4m (31 March 2024: $4m).

2 Opening hyperinflationary adjustment as at 1 April 2024 relates to Malawi operations (refer to note 5(g)).

3 This primarily relates to:

  • Reversal of put option liability by $15m (31 March 2024: $24m) for dividend distribution to put options non-controlling interest holders (any dividend paid to the put option non-controlling interest holders is adjustable against the put option liability based on the put option arrangement).

  • Excess of consideration over proportionate net assets, on sale of shares of Airtel Zambia to minority shareholders under free float of Airtel Zambia amounting to $9m (31 March 2024: $0m).

  • Adjustment of $17m pertaining to the settlement of dispute with non-controlling interest holders in one of the subsidiaries of the Group.

  • During the year ended 31 March 2024, it includes the excess of consideration over proportionate net assets on sale of 10.89% shares of Airtel Uganda to minority shareholders under IPO of Airtel Uganda amounting of $49m, and adjustment of $18m pertaining to Airtel Mobile Commerce BV on account of completion of restructuring period and consequent release of escrow shares as per agreement with non-controlling interest holders.