Telkom, South Africa's third-largest mobile network operator, has reported a significant decline in headline earnings per share (HEPS) of 76.6% according to its annual financial results. HEPS is a key profitability measure in South African capital markets, indicating a company's income from operations and investments while excluding one-time charges and cost-cutting measures. Telkom attributes the decline to a challenging operating environment affected by inflationary pressures and ongoing power issues in the country, particularly loadshedding. Loadshedding-induced costs, such as installing solar panels and batteries, have contributed to additional expenses for South African telcos, including Telkom. Despite the decline in profits, Telkom's revenue saw a marginal increase of 0.9%, and its customer base grew by 7.8% to reach 18.3 million subscribers.

Read more on TechCabal