Ooredoo generates a net profit of MVR 97 million in Q2

Ooredoo Maldives' CEO Najib Khan (CL) at the company's Annual General Meeting on March 3, 2020. (Sun Photo/Fayaz Moosa)

Ooredoo Maldives has announced it generated a net profit of MVR 97.6 million in the second quarter of the year. 

According to Ooredoo’s Q2 financial report, the telecom giant generated MVR 423 million in total revenue during the period. This includes MVR 320 million from mobile services, MVR 102 million from fixed, broadband, enterprise services, and MVR 187,000 from other services. 

Though the total revenue in Q2 is 5.3 percent lower than Q1, it is 3.3 percent higher than the total revenue the company generated in Q2 last year. 

Ooredoo attributed the drop in total revenue in Q2 compared to Q1 to the drop in revenue from its roaming services due to the ongoing COVID-19 pandemic. 

Ooredoo ended Q2 with an operating profit of MVR 115 million and a net profit of 97.6 million.