MTCC reports net profit of MVR130mn in first-half of 2022


Photo: Sun Online

Maldives Transport and Contracting Company (MTCC) reports a net profit of MVR130 million for the first half of 2022.

The transport and contracting centric company reported a gross revenue of MVR1.1 billion in annual terms; inclusive of both first and second quarter earnings.

MTCC generated a gross revenue of MVR550 million during the first quarter, and MVR593 million during the second quarter.

The company made a net profit of MVR125 million during the corresponding period in 2021, confirming a MVR5 million increment of profits by the review quarter.

The annual net profit of MTCC for 2021 stood at MVR272 million, while it was at MVR191 million in 2020.

Moreover, the Chief Executive Officer of MTCC Mr. Adam Azim affirmed the company’s commitment in achieving an annual net profit of MVR300 million by the end of 2022.