MTCC make MVR53m profit in Q1-2020


Maldives Transport and Contracting Company (MTCC) made a profit after tax of MVR53 million for the first quarter of 2020.

As per the company’s quarterly report, the profit after tax increased compared to the last quarter of 2019.

According to the report, the company made MVR31 million profit after tax during the final quarter of the previous year.

Moreover, MTCC reported an operating profit of MVR72 million in the review quarter, while the operating profit was at MVR53 million in Q4-2019.

However, the company’s revenue dropped in the review quarter to MVR354 million from MVR377 million in Q4-2019.

Furthermore, the company’s cost of sales or expense was MVR273 million in the review quarter.

In their report, MTCC confirmed their Business Profit Tax (BPT) for the quarter was MVR9.4 million.