Ooredoo Maldives closed the fourth quarter of 2025 with higher profitability and moderate revenue growth, reflecting steady performance across its core mobile, broadband, and enterprise segments alongside continued capital investment in network infrastructure.
According to the company’s fourth quarter report, revenue for the October to December period reached MVR 580.5 million, up from MVR 549.2 million in the previous quarter. Net profit after tax rose to MVR 207.9 million, compared with MVR 180.3 million in Q3, translating into a profit margin of 36 percent for the quarter. Earnings per share increased to MVR 1.41, while net assets per share rose to MVR 14.28.
The results were supported by growth in both mobile and fixed broadband revenues. Mobile services generated MVR 429.2 million during the quarter, while fixed, broadband, and enterprise services contributed MVR 150.5 million. Operating expenses declined slightly on a quarter on quarter basis, helping lift operating profit despite ongoing depreciation and amortisation linked to network investments.
From a balance sheet perspective, total assets stood at MVR 5.17 billion at the end of December, up from MVR 4.96 billion three months earlier. Equity attributable to shareholders increased to MVR 2.11 billion, reflecting retained earnings during the period. Cash and cash equivalents declined marginally to MVR 1.79 billion, largely due to higher investment outflows, as the company continued to deploy capital into infrastructure and systems.
Operationally, the quarter was marked by further expansion of Ooredoo Maldives’ fixed broadband footprint, with SuperNet fibre services extended to nine additional inhabited islands. The company also advanced its enterprise offering through a partnership with Google Cloud, introducing Google Workspace solutions targeted at small and medium enterprises and larger organisations. These initiatives indicate a continued focus on positioning connectivity and digital services as productivity tools for businesses, rather than purely consumer offerings.
On the governance and capital planning side, the Board approved several major investments during the quarter, including the development of the Nationwide Submarine Cable of Maldives 2 project with a budget ceiling of MVR 162 million, and a Business Support System transformation project capped at MVR 108 million. The Board also approved a business plan covering 2026 to 2028, an annual operating plan for 2026, and a US$ 10 million loan facility to support future requirements.
In the equity market, Ooredoo Maldives’ share price declined over the quarter, closing at MVR 74 on 30 December, compared with MVR 85 at the end of September. Market capitalisation stood at MVR 10.9 billion, down from MVR 12.6 billion in the previous quarter, reflecting broader market movements rather than a deterioration in quarterly earnings.
Overall, Ooredoo Maldives’ fourth quarter performance points to a business balancing stable cash generation with ongoing investment in network capacity and enterprise capabilities. While revenue growth remains incremental, the company’s focus on infrastructure, digital platforms, and cost control continues to shape its role as a central player in the Maldives’ communications and digital services market.
