Maldives Ports Limited (MPL) has ended financial year for 2017 with profits of MVR 158.5 million.
Audit statements published by the Auditor General Office (AGO) show that MPL earned MVR 628.2 million as earnings. MVR 282.5 million was spent on salaries and related expenditure, while another MVR 127.9 million was marked as administrative expenses.
After accounting for these aspects, the company made MVR 192.1 million as operational profits.
MPL paid MVR 28.1 million as taxes for last year. The post-tax profit of MVR 158.5 million is an increment of MVR 6.1 million compared to 2016.
The audit report further noted that out of the profits for 2017, MVR 95.1 million will go to the Government.