Dhiraagu, the Maldives’ leading telecommunications and digital services provider, has announced a net profit of USD 15.44 million for the second quarter of 2025, reflecting a 2.1 percent increase compared to the previous quarter. The growth in profitability comes despite a slight decline in total revenue, highlighting the company’s operational resilience and continued efficiency across its core business segments.
According to Dhiraagu’s financial statements for the period ending 30 June 2025, net profit after tax rose from USD 15.11 million in the first quarter. Pre-tax earnings also improved, reaching USD 18.09 million, up 2.2 percent from USD 17.70 million in the previous quarter. The performance underscores the company’s ability to maintain profitability in a competitive market environment and amid shifting consumer trends.
Dhiraagu’s revenue portfolio remains concentrated in two main areas: mobile services, and fixed-line broadband internet and enterprise solutions. Mobile services continued to be the company’s largest revenue driver, contributing USD 24.19 million in Q2 2025, a 0.5 percent increase compared to USD 24.06 million in Q1. The growth in mobile service revenue reflects the sustained demand for reliable mobile connectivity among residents, businesses, and the country’s vibrant tourism sector, which relies heavily on mobile internet for visitor communications and digital services.
Conversely, fixed broadband services registered a minor contraction, with revenue declining 0.9 percent to USD 19.59 million in the second quarter, compared to USD 19.79 million in the first quarter. This dip may reflect seasonal usage patterns, market competition, and evolving customer preferences, particularly with the increasing adoption of mobile internet solutions for both residential and enterprise users.
Overall, Dhiraagu’s total revenue for Q2 2025 stood at USD 45.13 million, representing a marginal 0.3 percent decrease from USD 45.27 million in Q1. Despite this, the company’s focus on operational efficiency, technology upgrades, and expanding service offerings has enabled it to sustain growth in net earnings.
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