Maridive’s consolidated profits surge 152% YoY in Q1 2024

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The company recorded consolidated net profits of $20.38mln in Q1 2024, compared to $8.087mln in Q1 2023

Staff Writer, Arab Finance

July 15, 2024

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Arab Finance: Maridive and Oil Services (MOIL) reported a 152% year-on-year jump in consolidated net profits after tax in the first quarter (Q1) of 2024, according to the financial indicators released on July 15th.

The company recorded consolidated net profits of $20.38 million in Q1 2024, compared to $8.087 million in Q1 2023.

Meanwhile, revenues came in at $56.104 million, up 35% YoY from $41.572 million in Q1 2023.

On June 12th, the firm announced recording standalone net profits after tax of $608,658 in Q1 2024, versus net losses of $480,912 in Q1 2023

Maridive Group is an Egypt-based company engaged in the provision of offshore marine and oil support services in the Middle East and North Africa Region.

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