MVR 545 million net profit for Ooredoo in 2018

CEO of Ooredoo Maldives, Najib Khan.

Ooredoo Maldives has declared a net profit of MVR 545 million in the past year in their annual report. 

The report shows a gross profit of MVR 1.95 billion for the telecom company in 2018. It is a six percent increase compared to the past year. 

The CEO of Ooredoo Maldives, Najib Khan, said that an annual increase in profits in a competitive market such as the Maldives is a huge achievement for the company. 

He said that profit from voice calls and roaming services. However the company profits were gained from the increased customer base and by continuing to introduce innovative products for customer needs. 

While MVR 100.3 million was paid as tax after settling cost, the company made a net profit of MVR 544.72 million. 

Ooredoo Maldives Group consists of Ooredoo Maldives and a subsidiary, WARF Telecom International - a joint venture by Ooredoo and Raajje Online to install submarine cables. Ooredoo said they the company received MVR 77.3 million via WARF and made a net profit of MVR 19 million. 

The company has a maket capitalization of MVR 5.1 billion.