Maldives’ largest telecommunications company, Dhiraagu, increased its net profit by 17% to MVR 219.7 million in the first quarter, owing to higher tourism revenues.
According to the company’s quarterly financial report, revenue increased by 6% to MVR 660.2 million from MVR 621.6 million in the fourth quarter of 2020. However, it is 9% lower than the first quarter of 2020.
Further, the company increased net profit from MVR 188.3 million in the fourth quarter of 2020 to MVR 219.7 million in 2021, a 14% decrease from the same period of last year.
Dhiraagu also stated that, if approved by the annual general meeting, it intends to pay a dividend of MVR 5.16 per share at the end of the fiscal year.