Dhiraagu Holds Extraordinary General Meeting to Approve Key Resolutions

Dhiraagu has concluded its Extraordinary General Meeting (EGM), held virtually via the Fahivote platform, an online General Meetings Management System.

The meeting was chaired by Dhiraagu’s Deputy Chairperson, Ahmed Abdulrahman. A total of 19 shareholders participated, including 16 attending in person and 3 represented by proxy.

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The EGM saw the passing of two special resolutions, each approved by the required majority:

• A special resolution to amend the Articles of Association
• A special resolution to amend the Memorandum of Association

During the meeting, Dhiraagu’s CEO and Managing Director, Mr Ismail Rasheed, shared key highlights from the company’s performance during the first three quarters of 2024.

By the end of Q3, Dhiraagu achieved a revenue growth of MVR 129 million, representing a 6.6% increase compared to the previous year. Total revenue for the period reached MVR 2.1 billion, while net profit rose by MVR 36 million, bringing the total to MVR 700 million—a 5.4% increase year-on-year. The company attributed this growth to strong performance across several key business segments.

Mr Rasheed also highlighted Dhiraagu’s initiatives throughout the year, including the successful landing of the SEA-ME-WE 6 (SMW6) submarine cable system in the Maldives and the noted the extension of Dhiraagu’s Fibre-to-the-Home (FTTH) service which has now reached 98% of households nationwide as of Q3 2024.

According to him, the company’s efforts were further validated when Dhiraagu was recognized as the “Fastest Mobile Network in the Maldives” by Ookla® for the third consecutive year.

For more information about Dhiraagu’s quarterly reports, visit https://www.dhiraagu.com.mv/about-us/investor-relations/financial-reports