Financial results released by Ooredoo Maldives show that the company achieved a net profit of MVR 172 million in the second quarter of this year.

According to the second-quarter financial statements publicized by Ooredoo Maldives, the net profit of MVR 172 million represents a 9 percent decrease compared to the previous quarter. During the same period last year, the company recorded a net profit of MVR 179 million.

Ooredoo generates revenue primarily from two main sectors: mobile services, and fixed line, broadband internet, and enterprise services.

In the second quarter of this year, the company generated MVR 380 million in revenue from mobile services, which is lower compared to the MVR 394 million generated from mobile services in the first quarter of the year.

Despite the decline in revenue from mobile services, revenue from fixed broadband services experienced growth. Statistics indicate that MVR 155 million was generated from fixed broadband services in the second quarter of this year, representing a 2 percent increase compared to the MVR 152 million earned from this sector in the first quarter.

Figures show that Ooredoo recorded a total revenue of MVR 536 million in the second quarter of this year, compared to MVR 547 million in total revenue during the first quarter.

In the second quarter, Ooredoo recorded a profit before tax of MVR 203 million, compared to MVR 210 million in profit before tax during the first quarter of the year.