Maldives Transport and Contracting Company (MTCC) posts profit after tax of over MVR15 million for 2020 second quarter.
However, the profit after tax figure for review quarter observes significant drop from the preceding quarter; at MVR53 million.
According to MTCC the revenue from sales for second quarter hit MVR248 million whereas the sales hit MVR354 million in first quarter.
Moreover, the public limited corporation confirm operating profit for Q2 2020 reaching MVR27 million.
On the other hand, operating profit was at MVR72 million in the previous quarter.
MTCC records a gross profit of MVR24.7 million for the review quarter whereas it was at MVR79.6 million in the previous quarter.
Furthermore, the corporation notes their business saw “a slow down due to the impact of Covid-19 during second quarter”.
This gave in effect towards the revenue drop by 30% in second quarter in comparison with first quarter.
Comments