The Maldives Transport and Contracting Company (MTCC) reported a significant revenue decline in the second quarter of this year. According to their quarterly report, MTCC earned MVR 497 million in Q2, down 25% from MVR 664 million in Q1.
Compared to last year’s second-quarter revenue of MVR 727 million, this year’s earnings are 32% lower. The decline is attributed to increased operational, marketing, and administrative costs.
MTCC earned MVR 5 million in profits in Q1 this year, compared to MVR 97 million last year and MVR 196 million the previous year. The company’s highest profits were recorded in 2021, with MVR 270 million. Despite a recovery over the past four years, the current revenue dip highlights ongoing financial challenges.
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