Dhiraagu makes profit of Rf170m from January to March 2012

Dhivehi Raajjeyge Gulhun Private Limited (Dhiraagu) has made net profit of Rf170.1m from January to March 2012.

This is an amount Rf3.6m more than its net profit during the last three months of last year, which was Rf166.5m.

Dhiraagu became a public company in October 2011.

The company’s revenue in the final three months of last year was Rf521.7m, profit before tax was Rf196.6, and net profit was Rf166.5m.

The unaudited report published today by Dhiraagu shows that during the first three months of this year, revenue was Rf508.7m, profit before tax was Rf194.9, and net profit was Rf170.1.

This results in basic earnings per share of Rf2.25.

The highest traded price of Dhiraagu shares in the first three months of this year is Rf80. The company’s market capitalization is Rf6.08b.

Dhiraagu has announced the sale of 15 percent of its shares out of the 48 percent owned by the government. Of this, 4.7m shares have already been sold, resulting in revenue to the government of Rf376m.