Dhiraagu's annual income in 2023 raised to MVR 2.6 billion

In 2023, Dhiraagu spent MVR 627 million on capital investments, and raised their annual income to MVR 2.6 billion.

According to the company's financial statement, their income has increased by approximately 2 percent. In 2022, the company earned MVR 2.5 billion.

Dhiraagu said that the increment was seen due to further broadening of their services, especially in the performance of fixed broadband, mobile and enterprise segments. The company's EBITDA (net income + interest + tax + depreciation + amortization) last year saw a 7.1 percent increase, reaching MVR 1.5 billion.

Last year's profit after tax saw a 6.5 percent increase from the previous year. Dhiraagu's capital investment increased by 31.7 percent, and rose to MVR 627 million. Dhiraagu said that this is because important investments were made to broaden their network and to further strengthen the services provided to customers.

Dhiraagu said that within the last year, the company had provided high speed fiber-to-the-home (FTTH) services to 94 percent residences in the country. Their 5G services have been provided to 50 percent of the population. Moreover, Maldives' domestic submarine cable has been upgraded, four additional segments have been established, as well as strengthening of the cyber security infrastructure.

Six resolutions were passed at the Dhiraagu 35th Annual General Meeting. These are:

1. To pass Company Director's report and audited financial records report of 2023

2. To determine and pass the overall and final dividends for 2023

3. To pass to select a representative Public Director for general shareholders

4. To pass the resolution to determine fees for non-executive directors

5. To pass to appoint external auditors for the company's 2024 financial year

6. To authorize the company's board of directors to determine and disburse the interim dividends of 2024

It was also decided at the AGM to distribute MVR 7.5 per share.