Telecommunications company Ooredoo Maldives has recorded USD34 million in revenue in the third quarter of 2023.
The Quarterly Report shows that Ooredoo recorded USD34 million in revenue, which is a 4.3% increase compared to the USD32 million recorded in the second quarter. Ooredoo generated revenue from two main areas which are mobile services and fixed broadband enterprise businesses. The company generated a revenue of USD26 million from mobile services, which is an increase compared to the USD25 million generated in the second quarter.
The report stated that revenue from fixed broadband services also improved in the third quarter. Fixed broadband services generated a revenue of USD7.9 million in the third quarter, which is an increase compared to the USD7.5 million generated in the second quarter. In addition, the company spent USD17 million on operations in the third quarter. Ooredoo also recorded a net profit of USD11 million, which is an increase of 6% compared to USD10 million generated in the second quarter.
Ooredoo Maldives was launched in 2005 to provide telecommunications services in the Maldives. A total of 9.5% of the company's shares have been issued to the public while the remaining 90.5% is held by Wataniya International in Qatar.