Dhiraagu revenue at MVR 627 million in Q3; profits down 7%

Dhiraagu's revenue surged, but net profit declined, the company's third quarter results have shown. 

Dhiraagu reported a revenue of MVR 627.4 million in the third quarter as against MVR 627.4 million in the year-ago period. This is an increase of 1% over the MVR 618.8 million revenue recorded in the second quarter.

Dhiraagu reported a net profit of MVR 202.2 million in the third quarter. This is 7.4% lower than the second quarter net profit of MVR 218.4 million.

According to the quarterly report, other revenue receipts in the second quarter were higher than those in the third quarter. The reason is that MIRA provided a refund of withholding tax during the quarter. The fall in third-quarter profit in the income statement, according to Dhiraagu, was attributed to the same reason.

In terms of operating expenses, Dhiraagu has maintained the company's expenses at the same level in the last quarter. The operating cost of the two quarters is as follows:

Dhiraagu's revenue from major segments of its business also improved in the last quarter as compared to the second quarter of the year.