Maldives Transport and Contracting Company PLc (MTCC) posted USD136.2 million in revenue last year, financial figures showed.
However, according to MTCC’s financials last year, this revenue figure is 32.1 percent down from the previous year’s USD207.5 billion.
MTCC's operating income fell 37.2 percent compared to 2023, according to the company's fourth quarter financial report. The company had an operating revenue of USD28.1 million in 2023, but suffered a significant decline to $13.7 million last year.
The decline in revenue was reflected in MTCC’s profits, with the company posting profit before tax of USD6.4 million for 2025. This is 41 percent lower than the previous year, MTCC had posted a net profit of USD5.5 million last year.
The figures show that MTCC posted a net profit of USD27.1 million in the fourth quarter of last year. This is a decrease of 28.8 percent compared to Rs 38.1 million in the third quarter of last year.
MTCC posted operating profit of USD11.5 million in the fourth quarter. The company had operating revenue of USD823,000 in the third quarter.
MTCC posted a net profit of USD9.8 million in the last quarter of 2024.
The state-owned MTCC is implementing multiple infrastructure projects across the country. According to the company, MTCC carried out 189 projects in the last quarter of last year. Nine projects were completed and three new projects were started during the quarter.
The highlights of MTCC’s achievement in 2024 include Maafaru Airport Expansion second phase and a channel development in the harbour of Kumundhoo, Haa Dhaalu Atoll.