Dhiraagu posts a net profit of MVR 202.3M for Q3 2022

Dhiraagu headquarters in Male' City. (Sun Photo/Mohamed Hayyan)

Dhiraagu has announced a net profit of MVR 202.3 million for the third quarter of this year.

The Q3 financial report released by Dhiraagu shows the telecom operator generated MVR 627.4 million as revenue – a one percent increase compared to Q2.

Dhiraagu attributed the increase in revenue in Q3 to an increase in revenue from mobile services. The company generated MVR 316.9 million as revenue from mobile services and MVR 291.4 million as revenue from broadband internet services.

Dhiraagu generated a gross profit of MVR 246.6 million in Q3.

The unaudited balance sheet places trade and other receivables owed to Dhiraagu at MVR 772.2 million, and trade and other receivables owed by the company at MVR 705.5 million.

52 percent of Dhiraagu’s shares are owned by Bahrain’s Batelco. 41.8 percent of shares are owned by the Maldivian government and the remaining 6.2 percent by ordinary shareholders.