Maldives Transport and Contracting Company (MTCC), has recorded a profit of MVR 75 million without tax during the first quarter of 2022.
As mentioned on the quarterly financial report of MTCC, the company generated an income of MVR 550 million during the first quarter of the year, up 30% from the MVR 423 million generated during the same period last year. Although, it was less than the MVR 636 million generated as income during the final quarter of last year. MTCC has sourced this reduction to the increased supply of construction materials to sites during the last quarter.
As stated on the report, MTCC generated a net profit of MVR 75 million before tax during the first quarter of 2022, which is 27.1% higher than this time last year. With the current financial performance, profit per share has risen to MVR 7.96.
During the first quarter of the year, MTCC has carried out 108 infrastructure development projects across the nation, moreover, have completed 8 projects.
Additionally, MTCC has also undertaken 14 new projects during this period.
