Design drawing of the proposed-Villimalé Ferry Terminal to be developed by MTCC - Photo: MTCC
Maldives Transport and Contracting Company (MTCC) on Monday posted a net profit of MVR29 million for the second quarter of 2016, a 2% decline compared to the first quarter.
Financial reports released by MTCC show that despite the decrease in net profit, the company increased its revenue during the second quarter.
During the second quarter, MTCC generated MVR293 million in sales and MVR76 million in revenue.
The company earned MVR42 million in pre-tax profit during the second quarter 2016, which is a 12% increase compared to its pre-tax profit in quarter one.
Earnings per share stood at MVR58 for the second quarter.
According to MTCC, it commenced 11 new projects and completed 8 projects during the second quarter.
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