Dhiraagu Records a Soaring Profit of MVR 159 Million in Third Quarter

In the third quarter of this year, Dhiraagu has recorded a total revenue of MVR 586.7 million, out of which the profit is MVR 158.6 million.

When comparing against the third quarter revenue of last year of MVR 685.3 million, this year’s revenue figure is about MVR 100 million less. The third quarter profit figure this year is also 21.8% less than 2019.

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However, the profit figure in the third quarter this year depicts an 18% jump from the second quarter.

According to Dhiraagu, this indicates the progress being made after the recessionary impacts of COVID-19 stunned the Maldivian economy earlier on during the year. Furthermore, projects that were put on hold at the time were completed during the third quarter, which also helps to explain the higher profit figure.

Looking at the expenses, Dhiraagu spent about MVR 298 million during the third quarter this year, compared to last year’s third quarter expenses of MVR 335.7 million.

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