Maldives Airports Company Limited (MACL) has reported a revenue of MVR 2.7 billion in the first quarter of the current fiscal year.
The quarterly report from the Privatization and Corporatization Board indicates that in the first quarter of the current fiscal year, MACL earned MVR 2.7 billion in revenue, marking a substantial 29% increase compared to last year.
The surge in revenue results from rising fuel prices, increased fuel sales, and higher flight movement.
MACL’s increase in revenue for the first quarter of the current fiscal can also attributed to the growth in duty-free business and a higher number of passengers. MACL experienced significant growth in both revenue and operating profits.
MACL reported an operating profit of MVR 545.4 million in the first quarter of the current fiscal year, reflecting a remarkable increase of MVR 307.5 million, representing a 129% rise compared to the previous quarter.
In addition to the rise in operating profit, MACL experienced an increase in its net profit during the first quarter of the current fiscal year.
MACL recorded a net profit of MVR 453.1 million in the first quarter of this year, demonstrating substantial growth of MVR 309.4 million, marking a 215% increase compared to the same period in the previous year.