Ooredoo Maldives slows in profit during Q3-2020

Ooredoo Maldives faces slight drip in its net profit for the third quarter due to Covid-19 woes.

Moreover, the telecom and internet service provider confirms its net profit at MVR62 million for the review quarter.

Ooredoo’s net profit for the third quarter dropped by MVR20 million approximately from the previous quarter results.

As per the company’s financial statement, Ooredoo’s revenue for the review quarter stood at MVR367.8 million, which is MVR41.8 million below previous quarter results.

Mobile or telecommunication services comprised of the largest revenue portion with earnings at MVR277.2 million.

On the other hand, fixed broadband earnings stood at MVR84.5 million – increasing gradually as Ooredoo continues its expansion.

The company made settlement of MVR13.3 million in taxes in Q3-2020 with shareholder dividends at MVR42 per share.