Dhiraagu earns MVR 241M in net profit during third quarter

Local telecom company, Dhiraagu has posted a net profit of MVR 241 million for the third quarter of this year.

The company’s publicized its 2024 Third Quarter Report last Thursday.

As per the report, Dhiraagu earned MVR 691 million in total revenue during the third quarter – marking an increase of MVR 3.9 million compared to the MVR 687 million earned in the second quarter.

The largest revenue source during the third quarter was mobile services accounting for MVR 363 million followed by fixed broadband and enterprise services at MVR 306 million. MVR 21 million was earned via other sources.

Dhiraagu incurred MVR 294 million in various expenses over the third quarter which includes MVR 110 million in direct cost, MVR 185 million in operational cost and MVR 101 million in depreciation and amortization.

The company also earned MVR 300,000 in other revenue.

It posted a net profit of MVR 241 after deducting expenses and taxes.

Dhiraagu earnings per share stood at MVR 3.17 in the third quarter. The earnings per share stood at MVR 3.16 during the second quarter.