Ooredoo Maldives has reported a net profit of MVR 684 million for 2024, supported by strong performance in both mobile and broadband services.

The company’s total revenue for the year reached MVR 2.2 billion, with MVR 1.7 billion generated from mobile services and MVR 520 million from fixed, broadband, and enterprise segments.

Ooredoo’s operating expenses stood at MVR 1 billion in 2024, while profit before tax was recorded at MVR 809 million.

In the fourth quarter of 2024, Ooredoo reported revenue of MVR 563 million, reflecting a 3.5 per cent increase compared to MVR 544 million in the third quarter. Additionally, the net profit for the fourth quarter stood at MVR 181 million, marking an 8.4 per cent rise from the MVR 167 million recorded in the third quarter.

Ooredoo’s shares traded at an average price of MVR 83.22, with the highest recorded price reaching MVR 89.10.

In terms of ownership, Wataniya International holds the majority stake in Ooredoo Maldives at 90.5 per cent. The Maldives Pension Administration Office owns 5.64 per cent, while the remaining 3.86 per cent is held by other shareholders.