Maldives Transport and Contracting Company (MTCC) has received only USD 187,000 as gross profit in the last quarter of last year. It is a decrease of 97% compared to the USD 6.280 million received during the last quarter of 2017, according to statistics.
The statistics published by MTCC shows the state-owned company spent USD 23.427 million on sales while nearly USD 20 million was spent as expenses. Meanwhile, the total profit amounted to nearly USD 4 million which is a decrease of 53%.
While the gross profit decreased, Managing Director Hassan Shah alleged the previous administration has used the funds of the company illegally.
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