Cairo – Mubasher: Maridive & Oil Services Co. said consolidated net profit for the first quarter of 2015 soared by 177.5% to $3.08 million (EGP 23.5 million), compared with EGP 1.1 million (EGP 8.5 million) in the year-ago period.

The Egypt-listed offshore and marine services provider said earlier Q1 standalone net profit fell by 27% to $3.551 million (EGP 27.15 million), down from $4.84 million (EGP 3.70 million) in the corresponding period a year earlier.

The company earlier posted a surge by 252% in FY14 net profit to $7.11 million, from $2.02 million a year earlier.

Late in April, the company’[s shareholders gave a nod to the board’s proposal for withholding dividends for the fiscal year 2014.