Telecommunications company Ooredoo Maldives has recorded USD32.4 million in revenue in the fourth quarter of 2022.
According to the quarterly report, Ooredoo Maldives recorded an increase of USD32.4 million in revenue which is a 6.2% increase compared to the third quarter of last year. Ooredoo generated revenue from two main areas which is through mobile services and fixed broadband enterprise businesses. The company generated a revenue of USD25 million from mobile services which is an increase compared to the the USD23.5 million generated in the third quarter of last year.
The report stated that revenue from fixed broadband services also improved in the fourth quarter. Fixed broadband services generated a revenue of USD7.3 million in the fourth quarter which is an increase compared to the USD6.9 million generated in the third quarter. In addition, the company spent USD16.9 million on operations in the fourth quarter. Ooredoo also recorded a profit of USD9.2 million after tax which is an increase of 12.9 % compared to USD8.2 million generated in the third quarter of last year.
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.