- Ooredoo Maldives posted Q3 2026 revenue of MVR 577 million, up 5.1 per cent year-on-year, with net profit reaching MVR 182 million.
- The company's customer base grew 5.4 per cent to 443,000 subscribers, supported by new services and SuperNet broadband expansion to FDC developments.
- Marking its 21st anniversary, Ooredoo launched initiatives including the Atoll Esports League, Masrace fishing tournament, and won a Bronze Stevie Award.
Ooredoo Maldives has announced that it recorded positive financial growth for the third quarter ended 30 September 2026, driven by higher subscriber numbers and operational efficiencies despite persistent global economic pressures.
As per Ooredoo, it generated consolidated revenue of MVR 577 million during the quarter, an increase of 5.1 per cent from MVR 549 million in the corresponding period of 2025. Over the nine-month period, revenue rose 1.6 per cent to MVR 1,661 million.
The company further details that earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 4.1 per cent year-on-year to MVR 326 million in the third quarter, maintaining an EBITDA margin of 56.4 per cent. Quarterly net profit attributable to shareholders reached MVR 182 million, up 0.6 per cent from MVR 181 million a year earlier. For the first nine months of 2026, net profit advanced 3.2 per cent to MVR 535 million.
The statistics additionally show that the company expanded its total customer base by 5.4 per cent year-on-year to 443,000 subscribers, up from 421,000 in the third quarter of 2025.
Shadi Qawasmi, Managing Director and Chief Executive Officer of Ooredoo Maldives, attributed the performance to operational discipline amidst broader market headwinds.
“These achievements reflect our continued focus on operational efficiency and our ability to sustain positive financial momentum despite ongoing global economic uncertainties and geopolitical challenges that are negatively impacting the Maldivian economy,” Mr Qawasmi said.
Alongside its financial performance, the company marked its 21st anniversary during the quarter by introducing new services, including Truecaller Premium subscriptions, SonyLIV access, and the ChildSafe parental control tool for eligible 5G AirFibre subscribers.
On the infrastructure front, the operator extended its SuperNet broadband network to newly built residential blocks under the Fahi Dhiriulhun Corporation (FDC) development.
Moreover, the quarter featured several community and corporate initiatives. Ooredoo notes that the group organised the second edition of the Ooredoo Nation Atoll Esports League, drawing 48 teams nationwide, and partnered with the Ministry of Fisheries, Agriculture and Ocean Resources to host the Ooredoo Masrace fishing tournament in K. Maafushi.
The company also highlights that it received a Bronze Stevie Award in the “Employer of the Year – Telecommunications” category at the Stevie Awards for Great Employers 2026.
