MTCC reports over 70% revenue increment in Q2-2021

MTCC CEO Adam Azim with Maldives President Ibrahim Mohamed Solih | Photo: MTCC

Maldives Transport and Contracting Company (MTCC) confirms receipt of MVR63 million in net profit for the second quarter of 2021.

Moreover, the transport and contracting company further detailed out on receiving a total revenue of MVR423 million during the review quarter which is a 70.6% surge in comparison with the corresponding quarter of 2020.

In 2020, MTCC had reported a gross revenue of MVR248 million exclusively during the second quarter with a net profit of just MVR15 million owing to the Covid-19 pandemic led economic drivel.

MTCC observed significant improvement financially in the current year due to the commercial surge in the key industries in which the company had ventured in.

On the other hand, businesses slowed down considerably during the previous year over major economic sectors coming to a halt for unprecedented durations.

However, despite the setbacks across the country at the face of the global pandemic, MTCC had still managed to churn a stronger annual net profit; observed at MVR191 million – which was a record high for the company.

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