Maldives Transport and Contracting Company (MTCC) has reported a profit-after-tax of MVR63 million observed in the second quarter of 2021.
According to MTCC, the corporation had made revenues amounting to MVR423 million during the review quarter, which is a 70.6% increment from the revenue generated in the corresponding quarter of 2020.
The company’s financial report for the review quarter had further disclosed the earnings stood at just MVR248 million during the second quarter of last year, with a profit-after-tax of just MVR15 million.
The four-fold increment is evident from the improvement in the key industries where MTCC focuses its major business activities. Moreover, economic sectors came to unprecedented standstills in 2020 due to the Covid-19 global pandemic – which handed impacted the company as well.
Despite the economical challenges in 2020, MTCC had managed an annual profit-after-tax of MVR191 million which marked a record-high for the company while the annual net profit stood at just MVR53 million in 2019.