Maldives Transport and Contracting Company Limited (MTCC) successfully completed nine projects and mobilised 64 more in the second quarter of this year.
According to MTCC’s second quarter report, the company oversaw the management of 313 projects, encompassing the construction of harbors, airports, shore protection, dredging and reclamation, roads, buildings, and causeways.
Continuing from last year’s exceptional operational performance, nine projects were brought to successful completion, while work on 64 projects was mobilised during the quarter. Additionally, 35 projects were awarded within the same timeframe with a total value of USD 92.1 million.
MTCC reported a net profit of USD 1.81 million for the second quarter of the year, marking a decisive recovery from the loss recorded in the preceding quarter. The rebound was attributed to sustained momentum in the company's construction and land reclamation division.
The company's financial disclosure noted total income of USD 31.79 million, reflecting a 17.7 percent increase over the USD 27.12 million posted in the first quarter. That growth in revenue underpinned the broader improvement in profitability.