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MTCC recorded MVR 2.1 billion in revenue and approximately MVR 42 million in net profit in 2025, despite reporting a loss in the first quarter.
Mariyam Adheela
Managing Director | Executive Director of MTCC, DCP (RETD) Ahmed saudee -- Photo MTCC
MALÉ: Maldives Transport and Contracting Company (MTCC) recorded total revenue of MVR 2.1 billion and a net profit of MVR 42.03 million in 2025, according to the company’s financial statements.
MTCC published its financial results for all four quarters of 2025, with the company recording its highest quarterly revenue in the fourth quarter.
Revenue in the final quarter reached MVR 724.4 million, compared with MVR 418.4 million in the first quarter, MVR 490.3 million in the second quarter and MVR 501.1 million in the third quarter.
Fourth-quarter revenue was therefore 45 percent higher than revenue recorded in the third quarter.
MTCC recorded a MVR 62.1 million loss in the first quarter despite generating MVR 418.4 million in revenue, mainly due to higher company expenses.
The company subsequently returned to profitability as expenses were reduced and revenue increased.
MTCC recorded profits of MVR 27.9 million in the second quarter, MVR 13.3 million in the third quarter and MVR 62.8 million in the fourth quarter.
After offsetting the first-quarter loss against the profits recorded during the remaining three quarters, MTCC’s net profit for the year stood at MVR 42.03 million.
Construction and land reclamation were the company’s largest sources of revenue during the fourth quarter, generating MVR 589.4 million.
MTCC also generated MVR 38.3 million from the transport sector, MVR 92.07 million from trading activities and MVR 4.6 million from other sources during the quarter.
The company was required to pay approximately MVR 14 million in business profit tax for the second, third and fourth quarters, including MVR 4.9 million in the second quarter, MVR 2.3 million in the third quarter and MVR 6.2 million in the fourth quarter.
