MWSC Records USD5 Million Net Profit in 1Q2024

Photo: MWSC

Male’ Water and Sewerage Company Private Limited (MWSC) has reported a significant increase in first-quarter profits this year compared to last year, with net profits rising from USD 2.3 million to USD 5 million.

Despite a slight decrease in revenue compared to last year’s and this year’s first quarters, MWSC has maintained its profitability. Last year, the company recorded revenue of USD24 million, which dipped slightly to USD22 million this year.

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Nevertheless, MWSC achieved a substantial profit in the first quarter of this year, amounting to USD12 million, with an operating profit of USD6.2 million.

MWSC is the Greater Male Region’s primary water and sewerage provider, with its services extended to three islands for water and sewerage purposes and one island for electricity.

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