The Maldives Transport and Contracting Company (MTCC) posted a loss of MVR 62 million in the first quarter of this year, according to the company's quarterly report.
MTCC reported revenue of MVR 418 million for the quarter. This is an increase compared to last year, but the company reported an operating loss in the first quarter.
The company incurred the largest expenses for trade purposes. It cost MVR 375 million and generated a total profit of MVR 43 million. The company suffered a sharp drop in other revenue in the last quarter.
MTCC implemented 285 projects during the quarter. These include:
- Airport development - six projects
- Construction - 87 projects
- Construction of course ways and bridges - six projects
- Harbour Construction - 71 projects
- Port Development - One Project
- Jetty development - two projects
- Beach Protection - 34 projects
- Land reclamation and coastal protection - 32 projects
- Survey and Structural Assessment - Four projects
- Road construction - six projects
- Development of football fields - seven projects
- Other - 29 projects
The projects completed in the first quarter of this year are Raa Kinolhas beach protection, Manadhoo harbour construction, Izzudheen jetty development and Thaa Kinbidhoo land reclamation.
